Principal Financial Group Inc. Buys 2,000 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Principal Financial Group Inc. lifted its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 67,576 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Principal Financial Group Inc.’s holdings in Group 1 Automotive were worth $28,482,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Group 1 Automotive in the 4th quarter worth $30,000. Assetmark Inc. raised its position in shares of Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after acquiring an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Group 1 Automotive in the 3rd quarter worth $36,000. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive in the 3rd quarter worth $46,000. Finally, GAMMA Investing LLC raised its position in shares of Group 1 Automotive by 70.4% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock worth $51,000 after acquiring an additional 50 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stephens restated an “equal weight” rating and set a $460.00 target price on shares of Group 1 Automotive in a research note on Thursday, January 30th. Jefferies Financial Group assumed coverage on Group 1 Automotive in a research note on Friday, December 13th. They set a “buy” rating and a $500.00 target price on the stock. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Guggenheim boosted their target price on Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their target price on Group 1 Automotive from $420.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $460.33.

Insider Transactions at Group 1 Automotive

In related news, Director Lincoln Pereira sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $426.68, for a total value of $2,560,080.00. Following the completion of the transaction, the director now owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. This represents a 5.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Group 1 Automotive Stock Down 3.7 %

Group 1 Automotive stock opened at $451.10 on Friday. Group 1 Automotive, Inc. has a fifty-two week low of $258.77 and a fifty-two week high of $490.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03. The company has a market cap of $5.97 billion, a PE ratio of 12.27 and a beta of 1.36. The business’s 50-day simple moving average is $443.68 and its two-hundred day simple moving average is $401.94.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, January 29th. The company reported $10.02 EPS for the quarter, topping 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%. Equities analysts anticipate that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.50 dividend. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.47. 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 0.44%. Group 1 Automotive’s dividend payout ratio is presently 5.12%.

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

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.