Great West Life Assurance Co. Can Has $1,793,000 Position in Group 1 Automotive Inc. (GPI)
Great West Life Assurance Co. Can boosted its stake in shares of Group 1 Automotive Inc. (NYSE:GPI) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,075 shares of the company’s stock after buying an additional 1,134 shares during the period. Great West Life Assurance Co. Can owned about 0.14% of Group 1 Automotive worth $1,793,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Towle & Co. increased its stake in Group 1 Automotive by 125.7% in the second quarter. Towle & Co. now owns 265,491 shares of the company’s stock valued at $13,105,000 after buying an additional 147,850 shares during the period. California Public Employees Retirement System increased its stake in Group 1 Automotive by 9.5% in the second quarter. California Public Employees Retirement System now owns 52,900 shares of the company’s stock valued at $2,611,000 after buying an additional 4,600 shares during the period. SECOR Capital Advisors LP bought a new stake in Group 1 Automotive during the second quarter valued at $888,000. Acrospire Investment Management LLC increased its stake in Group 1 Automotive by 1,050.0% in the second quarter. Acrospire Investment Management LLC now owns 2,300 shares of the company’s stock valued at $114,000 after buying an additional 2,100 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in Group 1 Automotive during the second quarter valued at $460,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.
Group 1 Automotive Inc. (NYSE:GPI) traded down 0.06% during trading on Tuesday, hitting $71.84. 168,470 shares of the company’s stock traded hands. Group 1 Automotive Inc. has a 12-month low of $47.31 and a 12-month high of $82.39. The firm’s 50-day moving average price is $63.33 and its 200 day moving average price is $59.95. The stock has a market cap of $1.47 billion, a P/E ratio of 19.63 and a beta of 1.38.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, October 20th. The company reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by $0.13. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Group 1 Automotive had a net margin of 0.72% and a return on equity of 17.77%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 EPS. Analysts anticipate that Group 1 Automotive Inc. will post $7.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, November 29th. Group 1 Automotive’s payout ratio is 24.02%.
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GPI has been the subject of several research reports. Seaport Global Securities initiated coverage on shares of Group 1 Automotive in a report on Tuesday, August 9th. They issued a “neutral” rating for the company. TheStreet upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Thursday, September 15th. Zacks Investment Research upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $61.00 target price (down previously from $64.00) on shares of Group 1 Automotive in a report on Saturday, October 8th. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.33.
In related news, CFO John C. Rickel sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $64.31, for a total transaction of $321,550.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Darryl M. Burman sold 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $67.90, for a total transaction of $264,810.00. Following the transaction, the vice president now directly owns 68,233 shares in the company, valued at approximately $4,633,020.70. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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