Truist Financial Corp Sells 565 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Truist Financial Corp trimmed its position in Group 1 Automotive, Inc. (NYSE:GPI) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,004 shares of the company’s stock after selling 565 shares during the period. Truist Financial Corp’s holdings in Group 1 Automotive were worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Group 1 Automotive in the fourth quarter valued at about $30,000. Assetmark Inc. grew its stake in shares of Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after purchasing an additional 28 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Group 1 Automotive in the 3rd quarter worth approximately $36,000. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive during the 3rd quarter worth approximately $46,000. Finally, GAMMA Investing LLC boosted its stake in Group 1 Automotive by 70.4% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock valued at $51,000 after buying an additional 50 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $451.10 on Monday. Group 1 Automotive, Inc. has a 1 year low of $258.77 and a 1 year high of $490.09. 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 firm’s 50 day moving average is $443.68 and its 200-day moving average is $402.40. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 12.27 and a beta of 1.36.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 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%. Sell-side analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Group 1 Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.50 dividend. This is a boost 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 annualized dividend and a yield of 0.44%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 5.44%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have issued reports on GPI shares. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Stephens restated an “equal weight” rating and issued a $460.00 price target on shares of Group 1 Automotive in a research report on Thursday, January 30th. Jefferies Financial Group started coverage on shares of Group 1 Automotive in a report on Friday, December 13th. They set a “buy” rating and a $500.00 price objective for the company. 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 report on Friday, February 14th. Finally, Guggenheim raised their price target on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Group 1 Automotive presently has an average rating of “Moderate Buy” and an average price target of $460.33.

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.