Alliancebernstein L.P. Buys 9,587 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Alliancebernstein L.P. raised its holdings in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 396,401 shares of the company's stock after acquiring an additional 9,587 shares during the period. Alliancebernstein L.P. owned about 2.98% of Group 1 Automotive worth $167,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. FMR LLC lifted its position in Group 1 Automotive by 133.0% in the 3rd quarter. FMR LLC now owns 407,930 shares of the company's stock valued at $156,253,000 after acquiring an additional 232,846 shares in the last quarter. Norges Bank acquired a new stake in shares of Group 1 Automotive in the 4th quarter valued at about $65,721,000. Wealthfront Advisers LLC bought a new stake in shares of Group 1 Automotive in the fourth quarter valued at about $37,119,000. Thrivent Financial for Lutherans boosted its position in shares of Group 1 Automotive by 111.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock worth $67,949,000 after buying an additional 84,832 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Group 1 Automotive during the fourth quarter worth about $21,608,000. 99.92% of the stock is currently owned by institutional investors.

Group 1 Automotive Stock Up 2.1 %

GPI traded up $7.96 during trading on Friday, reaching $380.26. 284,467 shares of the stock were exchanged, compared to its average volume of 141,735. The stock has a market cap of $5.04 billion, a P/E ratio of 10.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03. The stock's 50 day moving average price is $437.95 and its two-hundred day moving average price is $413.95. Group 1 Automotive, Inc. has a twelve month low of $262.31 and a twelve month high of $490.09.

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Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, topping the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. Equities analysts expect that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost from Group 1 Automotive's previous quarterly dividend of $0.47. The ex-dividend date was Monday, March 3rd. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.44%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Jefferies Financial Group began coverage on Group 1 Automotive in a research note on Friday, December 13th. They issued a "buy" rating and a $500.00 target price on the stock. Stephens reissued an "equal weight" rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $450.33.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.