Congress Asset Management Co. Trims Stock Position in Group 1 Automotive, Inc. $GPI

Key Points

• Congress Asset Management Co. has reduced its stock position in Group 1 Automotive by 3.2%, now holding 27,337 shares worth approximately $11.94 million.
• Group 1 Automotive reported an earnings per share (EPS) of $11.52, exceeding the consensus estimate of $10.31, with a quarterly revenue increase of 21.4% year-over-year.
• The company declared a quarterly dividend of $0.50, equating to an annualized dividend of $2.00 and a dividend yield of 0.5%.

Congress Asset Management Co. decreased its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,337 shares of the company's stock after selling 897 shares during the quarter. Congress Asset Management Co. owned 0.21% of Group 1 Automotive worth $11,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Elequin Capital LP purchased a new stake in shares of Group 1 Automotive in the first quarter valued at about $29,000. Bessemer Group Inc. boosted its position in Group 1 Automotive by 60.3% during the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock worth $41,000 after acquiring an additional 41 shares during the last quarter. Fifth Third Bancorp boosted its position in Group 1 Automotive by 24.8% during the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock worth $56,000 after acquiring an additional 29 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Group 1 Automotive during the first quarter worth approximately $64,000. Finally, NBC Securities Inc. acquired a new stake in Group 1 Automotive during the first quarter worth approximately $87,000. Institutional investors and hedge funds own 99.92% of the company's stock.

Group 1 Automotive Trading Down 0.2%

Group 1 Automotive stock opened at $435.09 on Friday. The firm has a 50 day simple moving average of $447.15 and a 200-day simple moving average of $430.23. 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 stock has a market capitalization of $5.63 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86. Group 1 Automotive, Inc. has a 12-month low of $344.38 and a 12-month high of $490.09.

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

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Group 1 Automotive's dividend payout ratio is 5.51%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GPI. Citigroup reiterated a "buy" rating on shares of Group 1 Automotive in a report on Thursday. Wall Street Zen lowered shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. JPMorgan Chase & Co. lifted their target price on shares of Group 1 Automotive from $415.00 to $425.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Zacks Research lowered shares of Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley lifted their target price on shares of Group 1 Automotive from $470.00 to $485.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Group 1 Automotive has a consensus rating of "Hold" and a consensus price target of $476.57.

Insider Activity at Group 1 Automotive

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 shares were sold at an average price of $469.34, for a total value of $3,285,380.00. Following the completion of the sale, the director owned 82,967 shares in the company, valued at approximately $38,939,731.78. This represents a 7.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $219,439.50. Following the completion of the sale, the director owned 8 shares of the company's stock, valued at approximately $3,343.84. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

About Group 1 Automotive

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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