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UBS Group AG reduced its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 50.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,660 shares of the company"s stock after selling 15,914 shares during the period. UBS Group AG owned about 0.11% of Group 1 Automotive worth $2,238,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of GPI. EverSource Wealth Advisors LLC grew its holdings in Group 1 Automotive by 81.3% during the third quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company"s stock worth $35,000 after buying an additional 109 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Group 1 Automotive by 316.2% in the third quarter. Ronald Blue Trust Inc. now owns 283 shares of the company"s stock valued at $49,000 after purchasing an additional 215 shares during the last quarter. Islay Capital Management LLC lifted its position in shares of Group 1 Automotive by 20.1% during the second quarter. Islay Capital Management LLC now owns 1,069 shares of the company"s stock valued at $182,000 after purchasing an additional 179 shares in the last quarter. Cetera Investment Advisers purchased a new position in Group 1 Automotive during the first quarter worth about $202,000. Finally, Mirabella Financial Services LLP bought a new stake in Group 1 Automotive in the 3rd quarter worth about $204,000. 97.71% of the stock is owned by hedge funds and other institutional investors.
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Group 1 Automotive Stock Down 2.2 %
GPI stock opened at $227.23 on Tuesday. The stock has a fifty day moving average of $207.58 and a 200-day moving average of $185.37. Group 1 Automotive, Inc. has a fifty-two week low of $136.16 and a fifty-two week high of $242.68. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 4.83, a PEG ratio of 2.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.33 and a current ratio of 1.03.
Group 1 Automotive Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $0.45 dividend. This is an increase from Group 1 Automotive"s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.80 annualized dividend and a dividend yield of 0.79%. Group 1 Automotive"s dividend payout ratio (DPR) is presently 3.83%.
Insider Activity
In related news, VP Michael David Jones sold 1,500 shares of the firm"s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $229.67, for a total value of $344,505.00. Following the completion of the transaction, the vice president now directly owns 13,355 shares of the company"s stock, valued at approximately $3,067,242.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Darryl M. Burman sold 2,500 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $205.50, for a total value of $513,750.00. Following the sale, the vice president now directly owns 19,945 shares of the company"s stock, valued at $4,098,697.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael David Jones sold 1,500 shares of the company"s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $229.67, for a total transaction of $344,505.00. Following the sale, the vice president now directly owns 13,355 shares in the company, valued at approximately $3,067,242.85. The disclosure for this sale can be found here. Insiders have sold a total of 33,600 shares of company stock valued at $7,091,904 over the last quarter. Company insiders own 3.80% of the company"s stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on GPI shares. Stephens boosted their target price on Group 1 Automotive from $275.00 to $290.00 in a research note on Thursday, January 26th. Morgan Stanley decreased their target price on Group 1 Automotive from $142.00 to $134.00 and set an "underweight" rating for the company in a research report on Tuesday, January 17th. StockNews.com raised shares of Group 1 Automotive from a "hold" rating to a "buy" rating in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Group 1 Automotive from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Tuesday, February 21st.
Group 1 Automotive Company Profile
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Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.
Further Reading
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