Proficio Capital Partners LLC Takes Position in Group 1 Automotive, Inc. (NYSE:GPI)

Proficio Capital Partners LLC acquired a new stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,752 shares of the company's stock, valued at approximately $6,218,000. Proficio Capital Partners LLC owned 0.11% of Group 1 Automotive as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GPI. Franklin Resources Inc. grew its stake in 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 acquiring an additional 3,507 shares during the period. Paradigm Asset Management Co. LLC acquired a new stake in shares of Group 1 Automotive in the fourth quarter worth $295,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Group 1 Automotive in the third quarter valued at about $3,286,000. Pathstone Holdings LLC raised its holdings in shares of Group 1 Automotive by 25.8% during the 3rd quarter. Pathstone Holdings LLC now owns 10,180 shares of the company's stock valued at $3,899,000 after buying an additional 2,089 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Group 1 Automotive by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 67,576 shares of the company's stock worth $28,482,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Price Performance

GPI stock traded down $1.87 during midday trading on Friday, reaching $441.28. 204,667 shares of the company's stock traded hands, compared to its average volume of 128,017. The company has a 50-day simple moving average of $449.16 and a two-hundred day simple moving average of $408.28. 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, Inc. has a 1-year low of $260.00 and a 1-year high of $490.09. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 12.01 and a beta of 1.36.

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Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its 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 net margin of 2.47% and a return on equity of 18.09%. On average, analysts anticipate that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.50 per share. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Group 1 Automotive's dividend payout ratio is currently 5.44%.

Group 1 Automotive announced that its board has authorized a stock repurchase program on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, Director Lincoln Pereira sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the sale, the director now directly owns 98,467 shares in the company, valued at $42,013,899.56. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Group 1 Automotive Company 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.