Raymond James Financial Inc. Has $20.67 Million Holdings in Group 1 Automotive, Inc. $GPI

Key Points

• Raymond James Financial Inc. increased its holdings in Group 1 Automotive by 5.6%, owning approximately $20.67 million worth of the company's stock after buying an additional 2,861 shares in the first quarter.
• Group 1 Automotive reported a 21.4% increase in quarterly revenue year-over-year, with earnings per share beating analysts' expectations at $11.52.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized dividend of $2.00 and a yield of 0.4%.

Raymond James Financial Inc. lifted its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,128 shares of the company's stock after buying an additional 2,861 shares during the quarter. Raymond James Financial Inc. owned about 0.42% of Group 1 Automotive worth $20,674,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Captrust Financial Advisors increased its position in shares of Group 1 Automotive by 4.2% during the fourth quarter. Captrust Financial Advisors now owns 571 shares of the company's stock worth $241,000 after buying an additional 23 shares during the period. Fifth Third Bancorp increased its position in shares of 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 buying an additional 29 shares during the period. PNC Financial Services Group Inc. grew its holdings 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 worth $437,000 after purchasing an additional 30 shares during the period. SummerHaven Investment Management LLC grew its holdings in Group 1 Automotive by 1.2% in the first quarter. SummerHaven Investment Management LLC now owns 2,718 shares of the company's stock worth $1,038,000 after purchasing an additional 31 shares during the period. Finally, Xponance Inc. grew its holdings in Group 1 Automotive by 2.5% in the first quarter. Xponance Inc. now owns 1,302 shares of the company's stock worth $497,000 after purchasing an additional 32 shares during the period. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Stock Down 0.1%

Group 1 Automotive stock opened at $469.69 on Wednesday. Group 1 Automotive, Inc. has a 1-year low of $336.33 and a 1-year high of $490.09. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.16 and a beta of 0.83. The firm's fifty day moving average price is $440.75 and its two-hundred day moving average price is $429.26. 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 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 net margin of 2.18% and a return on equity of 18.10%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm earned $9.82 earnings per share. The business's quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Group 1 Automotive's dividend payout ratio (DPR) is 5.51%.

Insider Transactions at Group 1 Automotive

In related news, Director Steven Mizell sold 525 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total transaction of $219,439.50. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel James Mchenry sold 3,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 16,674 shares in the company, valued at $7,365,072.54. The trade was 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GPI shares. Morgan Stanley raised their price target on shares of Group 1 Automotive from $470.00 to $485.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Benchmark started coverage on shares of Group 1 Automotive in a report on Tuesday, June 24th. They issued a "hold" rating for the company. Zacks Research cut shares of Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Guggenheim cut shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Group 1 Automotive from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $479.43.

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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