Group 1 Automotive, Inc. $GPI Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in Group 1 Automotive by 1.8% during Q1, now owning 180,580 shares valued at approximately $68.97 million.
• Group 1 Automotive reported earnings of $11.52 per share for the latest quarter, surpassing analysts' expectations of $10.31 and reflecting a 21.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.50, with a payout ratio of 5.51% and an annualized yield of 0.5%, set to be paid on September 16th.

Invesco Ltd. increased its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,580 shares of the company's stock after purchasing an additional 3,277 shares during the period. Invesco Ltd. owned approximately 1.40% of Group 1 Automotive worth $68,973,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Group 1 Automotive by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company's stock worth $983,000 after purchasing an additional 903 shares in the last quarter. SG Americas Securities LLC grew its position in Group 1 Automotive by 315.5% during the first quarter. SG Americas Securities LLC now owns 1,720 shares of the company's stock worth $657,000 after buying an additional 1,306 shares during the period. GAMMA Investing LLC grew its position in Group 1 Automotive by 95.9% during the first quarter. GAMMA Investing LLC now owns 237 shares of the company's stock worth $91,000 after buying an additional 116 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Group 1 Automotive by 68.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company's stock worth $4,799,000 after buying an additional 5,091 shares during the period. Finally, Bessemer Group Inc. grew 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 buying an additional 41 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Steven Mizell sold 525 shares of the firm'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 sale, the director owned 8 shares in the company, valued at approximately $3,343.84. This trade represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel James Mchenry sold 3,000 shares of the firm'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 transaction of $1,325,130.00. Following the sale, the chief financial officer owned 16,674 shares in the company, valued at approximately $7,365,072.54. This trade represents a 15.25% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GPI. Benchmark began coverage on shares of Group 1 Automotive in a research report on Tuesday, June 24th. They set a "hold" rating on the stock. Citigroup upped their target price on shares of Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of Group 1 Automotive from $415.00 to $425.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Morgan Stanley upped their target price on shares of Group 1 Automotive from $470.00 to $485.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Zacks Research lowered shares of Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $479.43.

Group 1 Automotive Price Performance

Shares of GPI stock traded down $1.58 during trading hours on Thursday, hitting $445.16. The company's stock had a trading volume of 170,176 shares, compared to its average volume of 164,539. The business has a fifty day moving average of $438.50 and a 200-day moving average of $429.51. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.11 and a beta of 0.83. Group 1 Automotive, Inc. has a twelve month low of $336.33 and a twelve month high of $490.09. 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 released its quarterly 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. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. Group 1 Automotive had a net margin of 2.18% and a return on equity of 18.10%. The company's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business earned $9.82 earnings per share. As a group, equities research analysts anticipate that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Dividend Announcement

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

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.