Cibc World Market Inc. Boosts Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Cibc World Market Inc. raised its stake in Group 1 Automotive, Inc. (NYSE:GPIGet Rating) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,570 shares of the company’s stock after buying an additional 66 shares during the period. Cibc World Market Inc.’s holdings in Group 1 Automotive were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its holdings in Group 1 Automotive by 19.1% in the second quarter. National Bank of Canada FI now owns 418 shares of the company’s stock valued at $71,000 after buying an additional 67 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Group 1 Automotive by 3.4% in the first quarter. Mercer Global Advisors Inc. ADV now owns 3,264 shares of the company’s stock valued at $548,000 after buying an additional 106 shares in the last quarter. First Republic Investment Management Inc. grew its position in shares of Group 1 Automotive by 5.4% in the first quarter. First Republic Investment Management Inc. now owns 3,441 shares of the company’s stock valued at $577,000 after purchasing an additional 175 shares during the last quarter. National Asset Management Inc. grew its position in shares of Group 1 Automotive by 10.1% in the first quarter. National Asset Management Inc. now owns 1,934 shares of the company’s stock valued at $326,000 after purchasing an additional 178 shares during the last quarter. Finally, Islay Capital Management LLC grew its position in shares of Group 1 Automotive by 20.1% in the second quarter. Islay Capital Management LLC now owns 1,069 shares of the company’s stock valued at $182,000 after purchasing an additional 179 shares during the last quarter. 98.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GPI. Bank of America lowered their price target on shares of Group 1 Automotive from $375.00 to $358.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. StockNews.com began coverage on shares of Group 1 Automotive in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $210.00 price target on the stock in a research report on Thursday, October 6th.

Insider Buying and Selling

In related news, CEO Earl J. Hesterberg sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $173.74, for a total transaction of $5,212,200.00. Following the sale, the chief executive officer now owns 8,974 shares in the company, valued at $1,559,142.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Group 1 Automotive news, CEO Earl J. Hesterberg sold 13,925 shares of Group 1 Automotive stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $189.14, for a total value of $2,633,774.50. Following the transaction, the chief executive officer now owns 76,079 shares in the company, valued at approximately $14,389,582.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Earl J. Hesterberg sold 30,000 shares of Group 1 Automotive stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $173.74, for a total transaction of $5,212,200.00. Following the completion of the transaction, the chief executive officer now owns 8,974 shares in the company, valued at approximately $1,559,142.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,925 shares of company stock worth $8,920,415. 3.80% of the stock is owned by insiders.

Group 1 Automotive Stock Down 0.8 %

Shares of NYSE GPI opened at $190.82 on Thursday. Group 1 Automotive, Inc. has a 1 year low of $136.16 and a 1 year high of $212.23. The firm’s 50 day moving average price is $166.18 and its 200 day moving average price is $172.91. The firm has a market cap of $2.78 billion, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 2.16 and a beta of 1.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.31 and a current ratio of 1.03.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 0.82%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.38. Group 1 Automotive’s dividend payout ratio (DPR) is 3.70%.

About Group 1 Automotive

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Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. 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. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.

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Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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