196,358 Shares in Group 1 Automotive, Inc. $GPI Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 196,358 shares of the company’s stock, valued at approximately $57,174,000. The Manufacturers Life Insurance Company owned 1.65% of Group 1 Automotive at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Torren Management LLC purchased a new position in shares of Group 1 Automotive during the 4th quarter worth $43,000. Johnson Financial Group Inc. bought a new stake in shares of Group 1 Automotive during the 3rd quarter valued at $55,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Group 1 Automotive in the 4th quarter worth $57,000. Global Retirement Partners LLC increased its stake in shares of Group 1 Automotive by 78.5% in the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock worth $75,000 after purchasing an additional 84 shares in the last quarter. Finally, Allworth Financial LP bought a new position in Group 1 Automotive in the 2nd quarter worth $75,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Trading Up 2.0%

Shares of GPI stock opened at $264.62 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02. The stock has a fifty day simple moving average of $295.34 and a two-hundred day simple moving average of $316.80. The firm has a market capitalization of $3.15 billion, a PE ratio of 11.02, a PEG ratio of 0.78 and a beta of 0.82. Group 1 Automotive, Inc. has a 52-week low of $249.54 and a 52-week high of $488.39.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate of $10.60 by ($0.99). The business had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. Group 1 Automotive’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.82 earnings per share. On average, analysts predict that Group 1 Automotive, Inc. will post 38.96 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Group 1 Automotive’s payout ratio is currently 9.16%.

Analysts Set New Price Targets

Several analysts have issued reports on GPI shares. JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $380.00 to $320.00 in a report on Friday, July 31st. UBS Group lowered their price objective on Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Barclays cut their price objective on Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. Citigroup increased their target price on shares of Group 1 Automotive from $420.00 to $462.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $392.44.

Group 1 Automotive Profile

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.