Axxcess Wealth Management LLC Cuts Position in Group 1 Automotive, Inc. (NYSE:GPI)

Axxcess Wealth Management LLC trimmed its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 786 shares of the company’s stock after selling 30 shares during the period. Axxcess Wealth Management LLC’s holdings in Group 1 Automotive were worth $301,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after buying an additional 28 shares during the period. Arizona State Retirement System increased its stake in shares of Group 1 Automotive by 0.9% during the second quarter. Arizona State Retirement System now owns 3,832 shares of the company’s stock worth $1,139,000 after buying an additional 33 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Group 1 Automotive by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after purchasing an additional 39 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Group 1 Automotive by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock valued at $848,000 after purchasing an additional 49 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after purchasing an additional 51 shares in the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GPI shares. Bank of America lowered their price target on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $397.80.

Group 1 Automotive Price Performance

GPI stock opened at $411.23 on Friday. The company has a market capitalization of $5.48 billion, a P/E ratio of 10.96, a PEG ratio of 2.09 and a beta of 1.33. Group 1 Automotive, Inc. has a twelve month low of $255.73 and a twelve month high of $422.28. The business has a 50 day simple moving average of $370.72 and a 200-day simple moving average of $337.59. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the company earned $12.07 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that Group 1 Automotive, Inc. will post 38.6 EPS for the current year.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is presently 5.01%.

Group 1 Automotive declared that its board has initiated a stock buyback program on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% 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.