Group 1 Automotive, Inc. (NYSE:GPI) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 596.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,384 shares of the company's stock after acquiring an additional 65,414 shares during the quarter. Thrivent Financial for Lutherans owned 0.57% of Group 1 Automotive worth $29,259,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GPI. Assetmark Inc. lifted its holdings in shares of Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company's stock worth $31,000 after purchasing an additional 28 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Group 1 Automotive by 0.9% in the second quarter. Arizona State Retirement System now owns 3,832 shares of the company's stock worth $1,139,000 after purchasing an additional 33 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Group 1 Automotive by 17.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company's stock valued at $79,000 after purchasing an additional 39 shares during the period. SummerHaven Investment Management LLC increased its holdings in Group 1 Automotive by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company's stock worth $848,000 after acquiring an additional 49 shares during the period. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock worth $43,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 99.92% of the company's stock.

Group 1 Automotive Stock Up 0.1 %

Shares of NYSE GPI traded up $0.49 during midday trading on Wednesday, hitting $401.74. The stock had a trading volume of 134,817 shares, compared to its average volume of 134,713. The business's 50 day moving average is $373.87 and its 200-day moving average is $340.54. Group 1 Automotive, Inc. has a 52 week low of $255.73 and a 52 week high of $422.28. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The company has a market cap of $5.35 billion, a P/E ratio of 10.74 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating analysts' consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.06 billion. During the same period in the prior year, the company earned $12.07 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that Group 1 Automotive, Inc. will post 38.52 EPS for the current year.

Group 1 Automotive declared that its board has initiated a stock buyback plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.47%. Group 1 Automotive's dividend payout ratio (DPR) is 5.01%.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares of the company's stock, valued at $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPI. StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Stephens started coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Morgan Stanley raised Group 1 Automotive from an "equal weight" rating to an "overweight" rating and increased their target price 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $397.80.

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.