Hsbc Holdings PLC Cuts Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Hsbc Holdings PLC decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 703 shares of the company’s stock after selling 58 shares during the period. Hsbc Holdings PLC’s holdings in Group 1 Automotive were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Avior Wealth Management LLC grew its stake in Group 1 Automotive by 25.6% during the 4th quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock worth $64,000 after purchasing an additional 31 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Group 1 Automotive by 119.4% during the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after buying an additional 37 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Group 1 Automotive by 13.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 346 shares of the company’s stock worth $146,000 after buying an additional 41 shares during the period. HighPoint Advisor Group LLC raised its holdings in Group 1 Automotive by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,536 shares of the company’s stock valued at $647,000 after acquiring an additional 41 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Group 1 Automotive by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,385 shares of the company’s stock worth $584,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GPI shares. Stephens reissued an “equal weight” rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. Citigroup initiated coverage on Group 1 Automotive in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $463.00 price target on the stock. Guggenheim dropped their price objective on Group 1 Automotive from $502.00 to $426.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $449.86.

Group 1 Automotive Stock Up 0.1 %

Shares of NYSE GPI opened at $430.20 on Friday. The stock has a market cap of $5.56 billion, a PE ratio of 11.71 and a beta of 0.94. Group 1 Automotive, Inc. has a 52-week low of $279.86 and a 52-week high of $490.09. The business has a 50-day moving average price of $403.90 and a 200 day moving average price of $420.00. 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 (NYSE:GPI) last announced its earnings results on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.68 by $0.49. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the firm posted $9.49 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, March 3rd. Group 1 Automotive’s dividend payout ratio is presently 5.61%.

Insider Transactions at Group 1 Automotive

In other news, VP Michael David Jones sold 1,613 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the completion of the sale, the vice president now owns 8,260 shares in the company, valued at $3,350,008.20. This represents a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

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.