CANADA LIFE ASSURANCE Co Cuts Stock Position in Genuine Parts (NYSE:GPC)

CANADA LIFE ASSURANCE Co lessened its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 17.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,576 shares of the specialty retailer's stock after selling 23,747 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Genuine Parts worth $13,377,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GPC. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts during the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Down 0.4 %

GPC traded down $0.47 during midday trading on Friday, hitting $116.62. The company's stock had a trading volume of 1,171,405 shares, compared to its average volume of 1,245,835. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $162.14. The firm has a 50-day moving average price of $118.98 and a two-hundred day moving average price of $120.72. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a market cap of $16.18 billion, a P/E ratio of 18.02 and a beta of 0.82.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. On average, research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, March 7th. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.53%. Genuine Parts's dividend payout ratio is currently 63.68%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Evercore ISI cut their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday. Truist Financial increased their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of "Hold" and an average price target of $130.86.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.