The Manufacturers Life Insurance Company Reduces Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

The Manufacturers Life Insurance Company cut its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,007 shares of the company's stock after selling 43,593 shares during the quarter. The Manufacturers Life Insurance Company owned 4.46% of Group 1 Automotive worth $250,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Group 1 Automotive by 119.4% during the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company's stock valued at $29,000 after buying an additional 37 shares during the last quarter. R Squared Ltd bought a new stake in shares of Group 1 Automotive in the fourth quarter worth $30,000. GAMMA Investing LLC lifted its holdings in Group 1 Automotive by 70.4% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company's stock valued at $51,000 after acquiring an additional 50 shares during the period. Avior Wealth Management LLC boosted its position in Group 1 Automotive by 25.6% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Group 1 Automotive in the fourth quarter worth about $66,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Price Performance

Shares of GPI traded up $6.34 during trading hours on Friday, reaching $411.67. 81,214 shares of the stock traded hands, compared to its average volume of 143,001. The company has a market cap of $5.32 billion, a P/E ratio of 11.20 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. The company's 50-day moving average price is $407.31 and its two-hundred day moving average price is $417.87. Group 1 Automotive, Inc. has a 52-week low of $279.86 and a 52-week high of $490.09.

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

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.50 per share. This is a positive change from Group 1 Automotive's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.61%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup began coverage on shares of Group 1 Automotive in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $463.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Stephens restated 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. Finally, Guggenheim decreased 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Group 1 Automotive has a consensus rating of "Moderate Buy" and an average price target of $449.86.

Insider Transactions at Group 1 Automotive

In related news, VP Michael David Jones sold 1,613 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $405.57, for a total value of $654,184.41. Following the sale, the vice president now owns 8,260 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Group 1 Automotive 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.