MetLife Investment Advisors LLC increased its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 35.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,774 shares of the company’s stock after acquiring an additional 3,363 shares during the period. MetLife Investment Advisors LLC owned about 0.07% of Group 1 Automotive worth $829,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Cubist Systematic Strategies LLC grew its holdings in Group 1 Automotive by 2,902.7% during the second quarter. Cubist Systematic Strategies LLC now owns 22,580 shares of the company’s stock worth $1,423,000 after acquiring an additional 21,828 shares during the period. Bank of New York Mellon Corp grew its holdings in Group 1 Automotive by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 389,327 shares of the company’s stock valued at $24,527,000 after purchasing an additional 1,416 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Group 1 Automotive in the second quarter valued at approximately $135,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Group 1 Automotive in the third quarter valued at approximately $109,000. Finally, Prudential Financial Inc. grew its holdings in Group 1 Automotive by 4.5% in the third quarter. Prudential Financial Inc. now owns 277,892 shares of the company’s stock valued at $18,035,000 after purchasing an additional 12,053 shares during the period. 99.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GPI opened at $59.92 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 1.14. Group 1 Automotive, Inc. has a 12 month low of $48.69 and a 12 month high of $83.97. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 1.64 and a beta of 1.82.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, October 25th. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.39 by $0.08. The company had revenue of $2.89 billion for the quarter. Group 1 Automotive had a return on equity of 15.48% and a net margin of 2.05%. Research analysts anticipate that Group 1 Automotive, Inc. will post 8.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, November 30th. Group 1 Automotive’s dividend payout ratio is presently 13.45%.
Group 1 Automotive announced that its Board of Directors has initiated a share buyback program on Thursday, October 25th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
GPI has been the topic of several research analyst reports. Zacks Investment Research lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. TheStreet lowered Group 1 Automotive from a “b-” rating to a “c+” rating in a report on Thursday, October 18th. Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock in a report on Wednesday, November 14th. Finally, Buckingham Research raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, October 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Group 1 Automotive has an average rating of “Hold” and an average price target of $77.40.
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Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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