28,231 Shares in Group 1 Automotive, Inc. $GPI Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc purchased 28,231 shares of Group 1 Automotive worth approximately $8.22 million, giving it a 0.24% stake. Institutional investors collectively own 99.92% of the company.
• Group 1 Automotive reported quarterly EPS of $9.61, below the $10.60 analyst consensus, while revenue fell 5.6% year over year to $5.39 billion. Shares opened at $269.27, near the lower end of their 52-week range.
• The company declared a quarterly dividend of $0.55 per share, equal to an annualized $2.20 payout and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $392.44.

Legal & General Group Plc purchased a new stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,231 shares of the company's stock, valued at approximately $8,220,000. Legal & General Group Plc owned 0.24% of Group 1 Automotive at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GPI. Johnson Financial Group Inc. acquired a new stake in shares of Group 1 Automotive during the 3rd quarter worth approximately $55,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Group 1 Automotive during the 4th quarter worth about $57,000. Global Retirement Partners LLC boosted its holdings in Group 1 Automotive by 78.5% in the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company's stock worth $75,000 after buying an additional 84 shares during the last quarter. Allworth Financial LP acquired a new stake in Group 1 Automotive in the 2nd quarter worth about $75,000. Finally, State of Wyoming increased its stake in Group 1 Automotive by 28.2% during the 4th quarter. State of Wyoming now owns 191 shares of the company's stock worth $75,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Stock Down 0.1%

Shares of NYSE:GPI opened at $269.27 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average of $290.55 and a two-hundred day moving average of $314.17. The stock has a market cap of $3.21 billion, a P/E ratio of 11.21, a PEG ratio of 0.81 and a beta of 0.82. Group 1 Automotive, Inc. has a 52-week low of $249.54 and a 52-week high of $488.39.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate of $10.60 by ($0.99). The company had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The firm's revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.82 EPS. On average, research analysts expect that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Group 1 Automotive's payout ratio is 9.16%.

Wall Street Analyst Weigh In

GPI has been the topic of several research reports. DA Davidson set a $425.00 target price on Group 1 Automotive in a research report on Friday, July 10th. Barclays dropped their price target on Group 1 Automotive from $435.00 to $365.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Benchmark restated a "buy" rating on shares of Group 1 Automotive in a report on Friday, July 10th. Evercore set a $360.00 target price on shares of Group 1 Automotive in a research note on Tuesday, August 4th. Finally, Zacks Research lowered shares of Group 1 Automotive from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $392.44.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc NYSE: GPI is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.

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