Assenagon Asset Management S.A. Has $24.22 Million Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Assenagon Asset Management S.A. boosted its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 57.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,236 shares of the company's stock after purchasing an additional 23,051 shares during the quarter. Assenagon Asset Management S.A. owned about 0.47% of Group 1 Automotive worth $24,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GPI. Hexagon Capital Partners LLC lifted its stake in shares of Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock valued at $43,000 after purchasing an additional 51 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Group 1 Automotive during the 2nd quarter worth approximately $48,000. Blue Trust Inc. raised its holdings in Group 1 Automotive by 47.5% in the second quarter. Blue Trust Inc. now owns 270 shares of the company's stock valued at $79,000 after acquiring an additional 87 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company's stock worth $79,000 after purchasing an additional 39 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Group 1 Automotive by 1,452.8% during the 1st quarter. Covestor Ltd now owns 559 shares of the company's stock worth $164,000 after buying an additional 523 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Group 1 Automotive Stock Down 1.1 %

Shares of NYSE GPI traded down $4.02 during trading hours on Friday, hitting $346.57. The stock had a trading volume of 92,566 shares, compared to its average volume of 101,982. The firm's 50-day moving average price is $364.84 and its two-hundred day moving average price is $327.20. Group 1 Automotive, Inc. has a 52 week low of $239.01 and a 52 week high of $393.93. The company has a market capitalization of $4.64 billion, a P/E ratio of 8.56, a P/E/G ratio of 1.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, topping the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business posted $11.73 earnings per share. The business's quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Group 1 Automotive, Inc. will post 38.99 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive's dividend payout ratio is currently 4.64%.

Insider Activity at Group 1 Automotive

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the transaction, the vice president now directly owns 9,742 shares in the company, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GPI has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $360.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Stephens initiated coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 price target for the company. StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Wednesday. Bank of America decreased their price target on Group 1 Automotive from $445.00 to $435.00 and set a "buy" rating for the company in a research report on Monday, July 22nd. Finally, 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 report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $396.80.

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.