Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 637,600 shares of the company's stock after selling 1,542 shares during the period. The Manufacturers Life Insurance Company owned about 4.79% of Group 1 Automotive worth $244,226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cerity Partners LLC lifted its position in Group 1 Automotive by 59.5% in the third quarter. Cerity Partners LLC now owns 7,909 shares of the company's stock valued at $3,029,000 after acquiring an additional 2,949 shares during the last quarter. Citigroup Inc. lifted its position in Group 1 Automotive by 31.8% in the third quarter. Citigroup Inc. now owns 28,341 shares of the company's stock valued at $10,856,000 after acquiring an additional 6,842 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Group 1 Automotive by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 152,923 shares of the company's stock valued at $58,576,000 after acquiring an additional 1,735 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Group 1 Automotive in the third quarter valued at $1,367,000. Finally, EULAV Asset Management raised its holdings in shares of Group 1 Automotive by 43.2% in the third quarter. EULAV Asset Management now owns 24,215 shares of the company's stock valued at $9,275,000 after buying an additional 7,300 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on GPI. StockNews.com raised shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Guggenheim upped their target price 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. upped their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Stephens began coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 target price for the company. Finally, Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Group 1 Automotive presently has a consensus rating of "Moderate Buy" and a consensus price target of $425.20.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Group 1 Automotive Stock Performance

NYSE GPI traded down $0.76 during trading hours on Tuesday, hitting $432.45. 178,465 shares of the stock were exchanged, compared to its average volume of 135,965. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 11.51 and a beta of 1.33. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $440.32. The stock has a 50-day moving average of $378.88 and a 200 day moving average of $343.82. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91.

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

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.43%. Group 1 Automotive's payout ratio is currently 5.01%.

Group 1 Automotive announced that its board has approved a stock repurchase plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are 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.