Royal Bank of Canada Has $16.56 Million Stock Holdings in Group 1 Automotive, Inc. $GPI

Key Points

• Royal Bank of Canada has reduced its stake in Group 1 Automotive by 6.7%, now holding 43,347 shares valued at approximately $16.56 million.
• Other institutional investors have also adjusted their holdings, with Nuveen LLC acquiring a new stake valued at $74.5 million and Wellington Management Group increasing its position by 130.5%.
• Group 1 Automotive recently announced a quarterly dividend of $0.50 per share, with an annualized yield of 0.4%.

Royal Bank of Canada decreased its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,347 shares of the company's stock after selling 3,092 shares during the quarter. Royal Bank of Canada owned approximately 0.34% of Group 1 Automotive worth $16,557,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in Group 1 Automotive by 4.2% in the 4th quarter. Captrust Financial Advisors now owns 571 shares of the company's stock valued at $241,000 after acquiring an additional 23 shares during the last quarter. Fifth Third Bancorp increased its position in Group 1 Automotive by 24.8% during the 1st quarter. Fifth Third Bancorp now owns 146 shares of the company's stock valued at $56,000 after buying an additional 29 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 purchasing an additional 30 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Group 1 Automotive by 1.2% in the first quarter. SummerHaven Investment Management LLC now owns 2,718 shares of the company's stock valued at $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% during the first quarter. Xponance Inc. now owns 1,302 shares of the company's stock worth $497,000 after acquiring an additional 32 shares during the period. Institutional investors own 99.92% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on GPI shares. Wall Street Zen lowered Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Morgan Stanley boosted their price objective on Group 1 Automotive from $470.00 to $485.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their price target on Group 1 Automotive from $415.00 to $425.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Zacks Research cut Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Bank of America reduced their price objective on Group 1 Automotive from $560.00 to $545.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $476.57.

Group 1 Automotive Stock Down 0.6%

Shares of NYSE GPI traded down $2.90 during midday trading on Monday, reaching $463.43. 17,284 shares of the company's stock were exchanged, compared to its average volume of 165,007. The stock has a market capitalization of $6.00 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Group 1 Automotive, Inc. has a 52-week low of $344.38 and a 52-week high of $490.09. The business's fifty day moving average price is $447.56 and its two-hundred day moving average price is $429.50. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05.

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

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 payout ratio is currently 5.51%.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, Director Lincoln Pereira sold 7,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total value of $3,285,380.00. Following the transaction, the director owned 82,967 shares of the company's stock, valued at approximately $38,939,731.78. This represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Mizell sold 525 shares of the business's stock in a transaction 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 transaction, the director owned 8 shares in the company, valued at approximately $3,343.84. This represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

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.