Franklin Resources Inc. Has $55.70 Million Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Franklin Resources Inc. raised its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,627 shares of the company's stock after purchasing an additional 3,507 shares during the quarter. Franklin Resources Inc. owned about 1.18% of Group 1 Automotive worth $55,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Group 1 Automotive by 22.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company's stock valued at $190,004,000 after acquiring an additional 115,143 shares during the last quarter. State Street Corp raised its position in Group 1 Automotive by 2.1% in the third quarter. State Street Corp now owns 541,766 shares of the company's stock worth $207,518,000 after purchasing an additional 10,969 shares in the last quarter. FMR LLC lifted its holdings in shares of Group 1 Automotive by 133.0% during the third 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 during the period. Geode Capital Management LLC lifted its position in Group 1 Automotive by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company's stock worth $117,080,000 after buying an additional 1,985 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Group 1 Automotive by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 152,923 shares of the company's stock worth $58,576,000 after purchasing an additional 1,735 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Analysts Set New Price Targets

GPI has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Group 1 Automotive in a report on Friday. They set a "buy" rating and a $500.00 price target for the company. Guggenheim raised their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a "buy" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Morgan Stanley upgraded shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Group 1 Automotive has a consensus rating of "Moderate Buy" and a consensus price target of $437.67.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the sale, the vice president now directly owns 6,259 shares of the company's stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Group 1 Automotive Stock Down 1.3 %

Group 1 Automotive stock traded down $5.50 during midday trading on Tuesday, hitting $421.71. 140,439 shares of the company's stock were exchanged, compared to its average volume of 134,061. Group 1 Automotive, Inc. has a 12 month low of $255.73 and a 12 month high of $440.32. The firm has a 50-day moving average of $393.84 and a two-hundred day moving average of $356.21. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The company has a market cap of $5.62 billion, a PE ratio of 11.23 and a beta of 1.35.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter last year, the firm earned $12.07 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts expect that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.47 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.45%. Group 1 Automotive's dividend payout ratio is presently 5.01%.

Group 1 Automotive declared that its Board of Directors has approved a stock buyback program on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Group 1 Automotive 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.