Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 7.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,033 shares of the company’s stock after selling 161 shares during the quarter. Pitcairn Co.’s holdings in Group 1 Automotive were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Group 1 Automotive in the 4th quarter valued at $65,721,000. Wealthfront Advisers LLC purchased a new position in Group 1 Automotive during the fourth quarter worth about $37,119,000. Thrivent Financial for Lutherans raised its holdings in Group 1 Automotive by 111.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company’s stock worth $67,949,000 after purchasing an additional 84,832 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Group 1 Automotive in the 4th quarter valued at approximately $21,608,000. Finally, Barclays PLC increased its position in Group 1 Automotive by 244.7% during the 3rd quarter. Barclays PLC now owns 56,319 shares of the company’s stock worth $21,573,000 after purchasing an additional 39,982 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GPI. Stephens reissued an “equal weight” rating and issued a $460.00 price target on shares of Group 1 Automotive in a report on Thursday, January 30th. JPMorgan Chase & Co. reduced their target price on Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Jefferies Financial Group began coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They set a “buy” rating and a $500.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $450.33.

Group 1 Automotive Stock Performance

Shares of GPI stock opened at $380.26 on Friday. 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 has a market cap of $5.04 billion, a PE ratio of 10.35 and a beta of 1.05. Group 1 Automotive, Inc. has a 1 year low of $262.31 and a 1 year high of $490.09. The stock has a fifty day moving average price of $436.56 and a 200 day moving average price of $414.06.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data 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 net margin of 2.47% and a return on equity of 18.09%. Sell-side analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.50 dividend. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, March 3rd. Group 1 Automotive’s payout ratio is presently 5.44%.

Group 1 Automotive Company Profile

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.