Deutsche Bank AG Sells 12,824 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Key Points

• Deutsche Bank AG reduced its stake in Group 1 Automotive by 37.9%, selling 12,824 shares during the first quarter, resulting in ownership of 21,045 shares worth approximately $8.04 million.
• Group 1 Automotive reported strong earnings with $11.52 earnings per share for the recent quarter, exceeding analysts' expectations, and showed a 21.4% year-over-year revenue increase totaling $5.70 billion.
• The company has announced a quarterly dividend of $0.50 per share, which will be paid on September 16th, representing an annualized yield of 0.5%.

Deutsche Bank AG decreased its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 37.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,045 shares of the company's stock after selling 12,824 shares during the quarter. Deutsche Bank AG owned 0.16% of Group 1 Automotive worth $8,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GPI. PNC Financial Services Group Inc. boosted its holdings in shares of Group 1 Automotive by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,144 shares of the company's stock worth $437,000 after purchasing an additional 30 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Group 1 Automotive in the 1st quarter worth approximately $370,000. De Lisle Partners LLP boosted its holdings in shares of Group 1 Automotive by 13.6% in the 1st quarter. De Lisle Partners LLP now owns 20,900 shares of the company's stock worth $7,975,000 after purchasing an additional 2,500 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Group 1 Automotive by 28.0% in the 1st quarter. Mackenzie Financial Corp now owns 1,126 shares of the company's stock worth $430,000 after purchasing an additional 246 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Group 1 Automotive by 23.8% in the 1st quarter. LPL Financial LLC now owns 13,933 shares of the company's stock worth $5,322,000 after purchasing an additional 2,678 shares during the period. Institutional investors own 99.92% of the company's stock.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $442.26 on Friday. Group 1 Automotive, Inc. has a twelve month low of $336.33 and a twelve month high of $490.09. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.13 and a beta of 0.83. The stock has a fifty day simple moving average of $437.75 and a two-hundred day simple moving average of $429.70. The company has a current ratio of 1.05, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its 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 business had revenue of $5.70 billion during 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 revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $9.82 EPS. On average, analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. Group 1 Automotive's dividend payout ratio is 5.51%.

Analyst Ratings Changes

A number of research firms recently issued reports on GPI. JPMorgan Chase & Co. boosted their price objective on Group 1 Automotive from $415.00 to $425.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Group 1 Automotive from a "hold" rating to a "buy" rating in a report on Saturday. Guggenheim cut Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Bank of America boosted their price objective on Group 1 Automotive from $510.00 to $565.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Citigroup boosted their price objective on Group 1 Automotive from $463.00 to $495.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $479.43.

Insiders Place Their Bets

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

Group 1 Automotive Company 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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