Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,986 shares of the company's stock after selling 607 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of Group 1 Automotive worth $2,944,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GPI. State Street Corp boosted its position in shares of Group 1 Automotive by 2.1% during the 3rd quarter. State Street Corp now owns 541,766 shares of the company's stock valued at $207,518,000 after acquiring an additional 10,969 shares during the last quarter. FMR LLC lifted its position in 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 purchasing an additional 232,846 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Group 1 Automotive by 0.7% in 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. Franklin Resources Inc. increased its holdings in shares of Group 1 Automotive by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 156,627 shares of the company's stock worth $55,701,000 after buying an additional 3,507 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $58,576,000 after buying an additional 1,735 shares in the last quarter. Institutional investors own 99.92% of the company's stock.

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Wall Street Analysts Forecast Growth

GPI has been the topic of a number of recent research reports. Guggenheim upped their price objective on Group 1 Automotive from $420.00 to $442.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Jefferies Financial Group assumed coverage on Group 1 Automotive in a research report on Friday, December 13th. They issued a "buy" rating and a $500.00 price target for the company. Stephens reiterated an "equal weight" rating and set a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Group 1 Automotive from $420.00 to $495.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Group 1 Automotive has an average rating of "Moderate Buy" and a consensus price target of $460.33.

Group 1 Automotive Trading Down 1.8 %

GPI stock traded down $8.14 during trading on Monday, hitting $450.94. The company had a trading volume of 188,081 shares, compared to its average volume of 135,941. Group 1 Automotive, Inc. has a 52-week low of $258.77 and a 52-week high of $490.09. The company has a 50 day simple moving average of $447.53 and a 200-day simple moving average of $406.44. The firm has a market capitalization of $5.97 billion, a P/E ratio of 12.27 and a beta of 1.36. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 0.92.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its earnings results on Wednesday, January 29th. The company reported $10.02 EPS for the quarter, topping analysts' consensus estimates of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. As a group, research analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.44%. This is a boost from Group 1 Automotive's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, March 3rd. Group 1 Automotive's dividend payout ratio is currently 5.44%.

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

Insider Transactions at Group 1 Automotive

In related news, Director Lincoln Pereira sold 6,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $426.68, for a total value of $2,560,080.00. Following the completion of the sale, the director now directly owns 98,467 shares of the company's stock, valued at $42,013,899.56. This represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company's stock.

About Group 1 Automotive

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.