Maryland State Retirement & Pension System Sells 597 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Key Points

• Maryland State Retirement & Pension System reduced its holdings in Group 1 Automotive by 13.6%, selling 597 shares and valuing its position at $1,447,000 at the end of the first quarter.
• Various institutional investors, including Allspring Global Investments and SG Americas Securities, increased their stakes substantially, with SG Americas growing its position by 315.5%.
• Group 1 Automotive's recent quarterly earnings reported an EPS of $11.52, surpassing estimates, and the company announced a quarterly dividend of $0.50 per share.

Maryland State Retirement & Pension System lowered its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,789 shares of the company's stock after selling 597 shares during the quarter. Maryland State Retirement & Pension System's holdings in Group 1 Automotive were worth $1,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in Group 1 Automotive by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,144 shares of the company's stock valued at $437,000 after buying an additional 30 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Group 1 Automotive in the first quarter valued at approximately $370,000. De Lisle Partners LLP raised its holdings in shares of Group 1 Automotive by 13.6% in the first quarter. De Lisle Partners LLP now owns 20,900 shares of the company's stock valued at $7,975,000 after purchasing an additional 2,500 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Group 1 Automotive by 28.0% in the first quarter. Mackenzie Financial Corp now owns 1,126 shares of the company's stock valued at $430,000 after purchasing an additional 246 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Group 1 Automotive by 23.8% in the first quarter. LPL Financial LLC now owns 13,933 shares of the company's stock valued at $5,322,000 after purchasing an additional 2,678 shares during the last quarter. Institutional investors own 99.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GPI shares. Wall Street Zen downgraded shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. upped their price objective 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. Bank of America upped their price objective on shares of Group 1 Automotive from $510.00 to $565.00 and gave the company a "buy" rating in a report on Monday, June 16th. Citigroup upped their price objective on shares of Group 1 Automotive from $463.00 to $495.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Benchmark began coverage on shares of Group 1 Automotive in a report on Tuesday, June 24th. They issued a "hold" rating on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $471.57.

Group 1 Automotive Stock Performance

Shares of Group 1 Automotive stock traded up $14.95 during trading on Wednesday, reaching $459.16. The company's stock had a trading volume of 158,719 shares, compared to its average volume of 166,937. The firm has a market cap of $5.94 billion, a PE ratio of 12.66, a P/E/G ratio of 1.08 and a beta of 0.83. Group 1 Automotive, Inc. has a 52 week low of $336.33 and a 52 week high of $490.09. The company has a quick ratio of 0.24, a current ratio of 1.05 and a debt-to-equity ratio of 0.97. The business's 50-day moving average price is $435.99 and its 200-day moving average price is $429.63.

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

Group 1 Automotive Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.4%. Group 1 Automotive's dividend payout ratio (DPR) is currently 5.51%.

Insider Activity at Group 1 Automotive

In related news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven Mizell sold 525 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $417.98, for a total transaction of $219,439.50. Following the completion of the transaction, the director directly owned 8 shares of the company's stock, valued at $3,343.84. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

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.