Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 7.2% in the fourth quarter, Holdings Channel reports. The fund owned 47,860 shares of the company’s stock after selling 3,723 shares during the period. Envestnet Asset Management Inc.’s holdings in Group 1 Automotive were worth $20,172,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. increased its position in Group 1 Automotive by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 396,401 shares of the company’s stock worth $167,075,000 after purchasing an additional 9,587 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Group 1 Automotive by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock worth $117,080,000 after buying an additional 1,985 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Group 1 Automotive by 111.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company’s stock valued at $67,949,000 after buying an additional 84,832 shares during the period. Franklin Resources Inc. raised its position in shares of Group 1 Automotive by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 157,515 shares of the company’s stock valued at $66,389,000 after buying an additional 888 shares during the period. Finally, Norges Bank purchased a new position in Group 1 Automotive in the fourth quarter worth approximately $65,721,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stephens restated an “equal weight” rating and issued a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. JPMorgan Chase & Co. decreased their target price on shares of Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $450.33.

Group 1 Automotive Trading Down 1.6 %

Shares of NYSE GPI opened at $398.42 on Tuesday. The stock has a fifty day simple moving average of $426.76 and a 200-day simple moving average of $415.00. Group 1 Automotive, Inc. has a twelve month low of $262.31 and a twelve month 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 stock has a market capitalization of $5.28 billion, a PE ratio of 10.84 and a beta of 1.05.

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

Group 1 Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.50 dividend. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, March 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.50%. Group 1 Automotive’s payout ratio is 5.44%.

About Group 1 Automotive

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.