Zurich Insurance Group Ltd FI Raises Holdings in Genuine Parts (NYSE:GPC)

Zurich Insurance Group Ltd FI boosted its stake in Genuine Parts (NYSE:GPC - Free Report) by 27.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,788 shares of the specialty retailer's stock after acquiring an additional 4,288 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Genuine Parts were worth $2,310,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after purchasing an additional 65,783 shares in the last quarter. Invesco Ltd. increased its stake in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after buying an additional 145,960 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 21.6% during the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after acquiring an additional 445,259 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Genuine Parts by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock valued at $249,426,000 after acquiring an additional 104,343 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GPC. Evercore ISI lowered their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Truist Financial boosted their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Down 0.5%

GPC stock traded down $0.58 during midday trading on Monday, hitting $126.31. The company's stock had a trading volume of 978,633 shares, compared to its average volume of 1,283,534. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $149.22. The firm has a 50-day simple moving average of $118.32 and a 200-day simple moving average of $120.06. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $17.53 billion, a P/E ratio of 19.52 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. As a group, equities analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.26%. Genuine Parts's payout ratio is 67.65%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.