T. Rowe Price Investment Management Inc. Has $83.47 Million Stake in Group 1 Automotive, Inc. (NYSE:GPI)

T. Rowe Price Investment Management Inc. lessened its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,028 shares of the company's stock after selling 7,384 shares during the period. T. Rowe Price Investment Management Inc. owned 1.49% of Group 1 Automotive worth $83,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in Group 1 Automotive during the fourth quarter worth $65,721,000. FMR LLC increased its stake in Group 1 Automotive by 26.4% during the fourth quarter. FMR LLC now owns 515,593 shares of the company's stock worth $217,312,000 after acquiring an additional 107,663 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Group 1 Automotive in the fourth quarter valued at about $37,119,000. Thrivent Financial for Lutherans boosted its holdings in Group 1 Automotive by 111.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock valued at $67,949,000 after purchasing an additional 84,832 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Group 1 Automotive in the fourth quarter valued at about $21,608,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Group 1 Automotive

In related news, VP Michael David Jones sold 1,613 shares of Group 1 Automotive stock in a transaction on Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the completion of the sale, the vice president now directly owns 8,260 shares of the company's stock, valued at $3,350,008.20. The trade was a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Group 1 Automotive Price Performance

NYSE GPI traded up $2.75 on Thursday, reaching $406.38. The company's stock had a trading volume of 30,339 shares, compared to its average volume of 142,783. The firm has a market cap of $5.30 billion, a PE ratio of 11.07 and a beta of 1.05. The business has a 50-day moving average price of $409.21 and a 200 day moving average price of $417.15. Group 1 Automotive, Inc. has a 52 week low of $279.86 and a 52 week high of $490.09. 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 announced its earnings results on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.68 by $0.49. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business earned $9.49 earnings per share. Group 1 Automotive's quarterly revenue was up 23.1% on a year-over-year basis. Sell-side analysts expect that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.50 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.47. Group 1 Automotive's dividend payout ratio is 5.61%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GPI shares. Citigroup initiated coverage on shares of Group 1 Automotive in a research note on Wednesday, April 23rd. They set a "buy" rating and a $463.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Guggenheim dropped their target price on Group 1 Automotive from $502.00 to $426.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Stephens reaffirmed an "equal weight" rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $449.86.

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.