Group 1 Automotive, Inc. (NYSE:GPI) Stake Increased by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 59.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,909 shares of the company's stock after buying an additional 2,949 shares during the period. Cerity Partners LLC owned 0.06% of Group 1 Automotive worth $3,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GPI. Assetmark Inc. boosted its holdings in Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company's stock valued at $31,000 after acquiring an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Group 1 Automotive during the 3rd quarter worth about $36,000. Hexagon Capital Partners LLC increased its position in Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock worth $43,000 after purchasing an additional 51 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Group 1 Automotive in the third quarter valued at approximately $46,000. Finally, Headlands Technologies LLC acquired a new position in Group 1 Automotive during the second quarter valued at approximately $48,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Stock Down 0.5 %

GPI traded down $1.96 on Friday, reaching $425.80. The company's stock had a trading volume of 47,696 shares, compared to its average volume of 138,317. Group 1 Automotive, Inc. has a 1 year low of $255.73 and a 1 year high of $440.32. The business's 50 day moving average is $382.49 and its 200 day moving average is $346.86. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 11.35 and a beta of 1.33.

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

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive's dividend payout ratio is currently 5.01%.

Group 1 Automotive announced that its board has authorized a share buyback plan on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Guggenheim upped their target price on Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Stephens initiated coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 target price on the stock. StockNews.com raised Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $425.20.

Insiders Place Their Bets

In related news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

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.