Citigroup Inc. Decreases Stock Holdings in Group 1 Automotive, Inc. $GPI

Key Points

• Citigroup Inc. reduced its holdings in Group 1 Automotive by 4.4% during the first quarter, selling 1,370 shares and retaining 30,094 shares valued at approximately $11.5 million.
• Group 1 Automotive reported earnings of $11.52 per share for the latest quarter, exceeding analysts' expectations and indicating a revenue increase of 21.4% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.50 per share, with an ex-dividend date set for September 2nd, representing a 0.5% dividend yield.

Citigroup Inc. trimmed its holdings in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 30,094 shares of the company's stock after selling 1,370 shares during the quarter. Citigroup Inc. owned about 0.23% of Group 1 Automotive worth $11,494,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GPI. Allspring Global Investments Holdings LLC grew its stake in shares of Group 1 Automotive by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company's stock valued at $983,000 after purchasing an additional 903 shares during the period. SG Americas Securities LLC grew its stake in shares of Group 1 Automotive by 315.5% during the 1st quarter. SG Americas Securities LLC now owns 1,720 shares of the company's stock valued at $657,000 after purchasing an additional 1,306 shares during the period. GAMMA Investing LLC grew its stake in shares of Group 1 Automotive by 95.9% during the 1st quarter. GAMMA Investing LLC now owns 237 shares of the company's stock valued at $91,000 after purchasing an additional 116 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Group 1 Automotive by 68.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company's stock valued at $4,799,000 after purchasing an additional 5,091 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Group 1 Automotive by 60.3% during the 1st quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after purchasing an additional 41 shares during the period. 99.92% of the stock is currently owned by institutional investors.

Group 1 Automotive Stock Performance

Shares of GPI stock traded up $5.05 during trading hours on Tuesday, reaching $450.84. 18,317 shares of the company traded hands, compared to its average volume of 166,101. Group 1 Automotive, Inc. has a 12-month low of $336.33 and a 12-month high of $490.09. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.05 and a quick ratio of 0.24. The company has a market cap of $5.83 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.10 and a beta of 0.83. The firm has a 50-day moving average price of $438.03 and a 200 day moving average price of $429.26.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $11.52 earnings per share for the quarter, beating analysts' consensus estimates of $10.31 by $1.21. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%.The firm had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the previous year, the firm earned $9.82 EPS. The business's quarterly revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

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

Insider Buying and Selling

In related news, Director Steven Mizell sold 525 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $417.98, for a total value of $219,439.50. Following the transaction, the director directly owned 8 shares of the company's stock, valued at approximately $3,343.84. The trade was a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel James Mchenry sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total value of $1,325,130.00. Following the completion of the transaction, the chief financial officer directly owned 16,674 shares in the company, valued at approximately $7,365,072.54. This represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GPI. Wall Street Zen upgraded Group 1 Automotive from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley set a $485.00 price target on Group 1 Automotive and gave the company an "overweight" rating in a research note on Thursday. Benchmark began coverage on Group 1 Automotive in a research note on Tuesday, June 24th. They set a "hold" rating for the company. 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. Finally, Zacks Research downgraded Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Group 1 Automotive presently has an average rating of "Hold" and a consensus price target of $479.43.

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.