Wealthfront Advisers LLC Makes New $37.12 Million Investment in Group 1 Automotive, Inc. (NYSE:GPI)

Wealthfront Advisers LLC acquired a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 88,069 shares of the company’s stock, valued at approximately $37,119,000. Wealthfront Advisers LLC owned 0.66% of Group 1 Automotive at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GPI. State Street Corp increased its holdings in Group 1 Automotive by 2.1% in the third quarter. State Street Corp now owns 541,766 shares of the company’s stock worth $207,518,000 after buying an additional 10,969 shares during the last quarter. FMR LLC raised its holdings in shares of Group 1 Automotive by 133.0% during the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock valued at $156,253,000 after purchasing an additional 232,846 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Group 1 Automotive by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock valued at $117,080,000 after purchasing an additional 1,985 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Group 1 Automotive by 2.3% in the third quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock worth $55,701,000 after purchasing an additional 3,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Group 1 Automotive by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 154,923 shares of the company’s stock worth $65,297,000 after buying an additional 2,000 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Price Performance

NYSE:GPI opened at $432.65 on Tuesday. The firm has a market cap of $5.73 billion, a PE ratio of 11.77 and a beta of 1.33. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 0.92. Group 1 Automotive, Inc. has a 12 month low of $260.00 and a 12 month high of $490.09. The company’s 50-day moving average price is $449.52 and its two-hundred day moving average price is $409.61.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. On average, equities analysts anticipate that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.47. Group 1 Automotive’s payout ratio is presently 5.44%.

Group 1 Automotive declared that its board has authorized a stock buyback plan on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

GPI has been the subject of several analyst reports. Jefferies Financial Group started coverage on Group 1 Automotive in a report on Friday, December 13th. They issued a “buy” rating and a $500.00 target price for the company. Guggenheim upped their price objective on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Stephens reiterated an “equal weight” rating and issued a $460.00 target price on shares of Group 1 Automotive in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Group 1 Automotive from $420.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $460.33.

Insider Activity at Group 1 Automotive

In other news, Director Lincoln Pereira sold 6,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the transaction, the director now directly owns 98,467 shares in the company, valued at approximately $42,013,899.56. The trade was a 5.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Group 1 Automotive Company 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.