Norges Bank acquired a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 155,929 shares of the company's stock, valued at approximately $65,721,000. Norges Bank owned approximately 1.17% of Group 1 Automotive at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GPI. State Street Corp increased its position in Group 1 Automotive by 2.1% in 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 in the last quarter. Geode Capital Management LLC increased its stake in Group 1 Automotive by 0.7% in the third quarter. Geode Capital Management LLC now owns 305,602 shares of the company's stock valued at $117,080,000 after purchasing an additional 1,985 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Group 1 Automotive by 111.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock valued at $67,949,000 after buying an additional 84,832 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Group 1 Automotive by 2.3% during the third quarter. Franklin Resources Inc. now owns 156,627 shares of the company's stock worth $55,701,000 after purchasing an additional 3,507 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Group 1 Automotive by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 154,923 shares of the company's stock worth $65,297,000 after buying an additional 2,000 shares during the period. 99.92% of the stock is owned by institutional investors.
Group 1 Automotive Stock Performance
Shares of NYSE:GPI traded down $8.30 during trading on Tuesday, reaching $376.33. 236,091 shares of the stock were exchanged, compared to its average volume of 143,403. Group 1 Automotive, Inc. has a 12 month low of $262.31 and a 12 month high of $490.09. The stock has a 50-day moving average price of $432.07 and a 200-day moving average price of $414.18. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The firm has a market cap of $4.98 billion, a PE ratio of 10.24 and a beta of 1.05.
Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. Research analysts expect that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.
Group 1 Automotive Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a dividend yield of 0.53%. Group 1 Automotive's dividend payout ratio is 5.44%.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They set a "buy" rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Stephens reiterated an "equal weight" rating and set a $460.00 target price on shares of Group 1 Automotive in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $450.33.
View Our Latest Stock Report on GPI
Group 1 Automotive Profile
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Free Report)
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.
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