Citigroup Inc. Grows Position in Group 1 Automotive, Inc. (NYSE:GPI)

Citigroup Inc. raised its position in Group 1 Automotive, Inc. (NYSE:GPI) by 31.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,341 shares of the company’s stock after acquiring an additional 6,842 shares during the quarter. Citigroup Inc.’s holdings in Group 1 Automotive were worth $10,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPI. The Manufacturers Life Insurance Company lifted its position in shares of Group 1 Automotive by 22.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after purchasing an additional 115,143 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Group 1 Automotive by 596.3% in the third quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock valued at $29,259,000 after buying an additional 65,414 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Group 1 Automotive by 57.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after acquiring an additional 23,051 shares in the last quarter. Shellback Capital LP increased its holdings in shares of Group 1 Automotive by 27.1% in the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock valued at $28,331,000 after acquiring an additional 20,302 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Group 1 Automotive by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after acquiring an additional 16,600 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Transactions at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Group 1 Automotive Price Performance

Shares of GPI opened at $427.76 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. Group 1 Automotive, Inc. has a fifty-two week low of $255.73 and a fifty-two week high of $440.32. The firm has a 50-day simple moving average of $380.89 and a 200-day simple moving average of $345.33. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 11.40 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the firm earned $12.07 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Group 1 Automotive, Inc. will post 38.38 earnings per share for the current year.

Group 1 Automotive declared that its board has initiated a stock buyback program on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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. Shareholders of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 0.44%. Group 1 Automotive’s payout ratio is currently 5.01%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Stephens began coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Guggenheim upped their target price on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $425.20.

Group 1 Automotive 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.