Bank of America Corp DE Buys 15,694 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Bank of America Corp DE grew its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,664 shares of the company's stock after acquiring an additional 15,694 shares during the period. Bank of America Corp DE owned about 1.08% of Group 1 Automotive worth $60,552,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in Group 1 Automotive by 25.6% during the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company's stock worth $64,000 after purchasing an additional 31 shares during the period. Bessemer Group Inc. boosted its stake in shares of Group 1 Automotive by 119.4% during the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after acquiring an additional 37 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Group 1 Automotive by 13.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 346 shares of the company's stock worth $146,000 after acquiring an additional 41 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in Group 1 Automotive by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,536 shares of the company's stock valued at $647,000 after acquiring an additional 41 shares during the period. Finally, Summit Investment Advisors Inc. lifted its holdings in Group 1 Automotive by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,385 shares of the company's stock valued at $584,000 after purchasing an additional 44 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Stock Performance

NYSE GPI traded up $3.28 during trading on Friday, reaching $444.14. The company's stock had a trading volume of 88,750 shares, compared to its average volume of 142,994. The firm has a 50 day moving average price of $404.07 and a 200 day moving average price of $422.58. Group 1 Automotive, Inc. has a 12 month low of $279.86 and a 12 month high of $490.09. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 12.09 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.68 by $0.49. The business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.37 billion. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. The firm's revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $9.49 earnings per share. As a group, equities analysts anticipate that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 2nd. Group 1 Automotive's dividend payout ratio (DPR) is currently 5.61%.

Insider Buying and Selling

In other Group 1 Automotive news, VP Michael David Jones sold 1,613 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $405.57, for a total transaction of $654,184.41. Following the sale, the vice president now directly owns 8,260 shares in the company, valued at $3,350,008.20. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GPI has been the topic of several research analyst reports. Stephens reissued an "equal weight" rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. Guggenheim lowered shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research note on Wednesday. Citigroup raised their price objective on shares of Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $454.43.

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.