862 Shares in Group 1 Automotive, Inc. $GPI Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 862 shares of Group 1 Automotive, valued at approximately $324,000, establishing a new position in the company during the first quarter.
• Following notable insider sales by directors, including a significant transaction where Director Lincoln Pereira sold 7,000 shares for over $3 million, insiders now own just 2.10% of the company's stock.
• Analysts are mixed on Group 1 Automotive, with price targets being adjusted; recent ratings include a boost from JPMorgan to $425 and a downgrade from Wall Street Zen from "buy" to "hold."

United Services Automobile Association purchased a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 862 shares of the company's stock, valued at approximately $324,000.

A number of other hedge funds have also bought and sold shares of the business. Elequin Capital LP acquired a new position in Group 1 Automotive in the first quarter valued at about $29,000. Bessemer Group Inc. raised its stake in Group 1 Automotive by 60.3% in the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after purchasing an additional 41 shares in the last quarter. Fifth Third Bancorp raised its stake in Group 1 Automotive by 24.8% in the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock valued at $56,000 after purchasing an additional 29 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Group 1 Automotive in the first quarter valued at about $64,000. Finally, NBC Securities Inc. acquired a new position in Group 1 Automotive in the first quarter valued at about $87,000. 99.92% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Lincoln Pereira sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total value of $3,285,380.00. Following the sale, the director directly owned 82,967 shares in the company, valued at $38,939,731.78. This represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Mizell sold 525 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total value of $219,439.50. Following the completion of the sale, the director owned 8 shares in the company, valued at $3,343.84. The trade was a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

GPI has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Group 1 Automotive from $415.00 to $425.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Group 1 Automotive from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Zacks Research cut Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their target price on Group 1 Automotive from $470.00 to $485.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Bank of America decreased their target price on Group 1 Automotive from $560.00 to $545.00 and set a "buy" rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Group 1 Automotive presently has an average rating of "Hold" and a consensus price target of $476.57.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $465.64 on Friday. The stock has a market cap of $6.03 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.24 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. The stock's 50-day moving average is $447.56 and its 200-day moving average is $429.89. Group 1 Automotive, Inc. has a 1-year low of $344.38 and a 1-year high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $11.52 earnings per share for the quarter, topping the consensus estimate of $10.31 by $1.21. The company had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.65 billion. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%.The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business posted $9.82 earnings per share. Equities research analysts anticipate that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. Group 1 Automotive's payout ratio is 5.51%.

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.

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