Raymond James Financial Inc. Buys Shares of 51,267 Group 1 Automotive, Inc. (NYSE:GPI)

Raymond James Financial Inc. acquired a new position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 51,267 shares of the company's stock, valued at approximately $21,608,000. Raymond James Financial Inc. owned approximately 0.38% of Group 1 Automotive at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Group 1 Automotive by 26.4% during the fourth quarter. FMR LLC now owns 515,593 shares of the company's stock valued at $217,312,000 after purchasing an additional 107,663 shares during the period. Alliancebernstein L.P. lifted its holdings in Group 1 Automotive by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 396,401 shares of the company's stock valued at $167,075,000 after acquiring an additional 9,587 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Group 1 Automotive by 111.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock valued at $67,949,000 after purchasing an additional 84,832 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Group 1 Automotive by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 157,515 shares of the company's stock worth $66,389,000 after purchasing an additional 888 shares in the last quarter. Finally, Norges Bank acquired a new stake in Group 1 Automotive during the fourth quarter valued at approximately $65,721,000. Institutional investors own 99.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GPI shares. Stephens reaffirmed an "equal weight" rating and issued a $460.00 price target on shares of Group 1 Automotive in a report on Thursday, January 30th. Citigroup initiated coverage on Group 1 Automotive in a report on Wednesday. They set a "buy" rating and a $463.00 target price for the company. Guggenheim reduced their price objective on shares of Group 1 Automotive from $502.00 to $426.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Group 1 Automotive currently has an average rating of "Moderate Buy" and a consensus target price of $449.86.

Group 1 Automotive Stock Up 0.8 %

Shares of NYSE GPI traded up $3.25 during mid-day trading on Thursday, reaching $401.90. The company had a trading volume of 40,618 shares, compared to its average volume of 144,609. The stock has a market capitalization of $5.32 billion, a PE ratio of 10.92 and a beta of 1.05. Group 1 Automotive, Inc. has a twelve month low of $279.86 and a twelve month high of $490.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03. The stock's 50 day moving average is $415.54 and its 200-day moving average is $415.41.

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

Group 1 Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, March 3rd. This is a positive change from Group 1 Automotive's previous quarterly dividend of $0.47. Group 1 Automotive's payout ratio is presently 5.44%.

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.