Royal Bank of Canada Reduces Stock Position 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 lessened its holdings in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 recently bought and sold shares of the company. Elequin Capital LP purchased a new position in Group 1 Automotive in the first quarter valued at $29,000. Bessemer Group Inc. increased its holdings in Group 1 Automotive by 60.3% in the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after buying an additional 41 shares during the last quarter. Fifth Third Bancorp increased its holdings in Group 1 Automotive by 24.8% in the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock valued at $56,000 after buying an additional 29 shares during the last quarter. NBC Securities Inc. purchased a new position in Group 1 Automotive in the first quarter valued at $87,000. Finally, GAMMA Investing LLC increased its holdings in Group 1 Automotive by 95.9% in the first quarter. GAMMA Investing LLC now owns 237 shares of the company's stock valued at $91,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company's stock.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, Director Lincoln Pereira sold 7,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total value of $3,285,380.00. Following the completion of the transaction, the director directly owned 82,967 shares of the company's stock, valued at approximately $38,939,731.78. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Mizell sold 525 shares of the 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 completion of the transaction, the director directly owned 8 shares of the company's stock, valued at approximately $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. 2.10% of the stock is owned by company insiders.

Group 1 Automotive Stock Performance

NYSE:GPI traded down $7.98 during mid-day trading on Monday, reaching $458.34. The stock had a trading volume of 131,145 shares, compared to its average volume of 146,776. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.18 and a beta of 0.86. Group 1 Automotive, Inc. has a twelve month low of $344.38 and a twelve month high of $490.09. The business has a 50 day simple moving average of $447.50 and a 200 day simple moving average of $429.49.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $11.52 EPS for the quarter, beating analysts' consensus estimates of $10.31 by $1.21. The firm had revenue of $5.70 billion during 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 firm's revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.82 earnings per share. On average, analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.50 dividend. 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 presently 5.51%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GPI. Wall Street Zen downgraded shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. 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 research note on Tuesday, August 5th. Benchmark began coverage on shares of Group 1 Automotive in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. Bank of America decreased their price objective on shares of 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. Finally, Morgan Stanley upped their price objective on shares of Group 1 Automotive from $470.00 to $485.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Group 1 Automotive currently has an average rating of "Hold" and an average price target of $476.57.

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.