Cerity Partners LLC Reduces Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Cerity Partners LLC trimmed its position in Group 1 Automotive, Inc. (NYSE:GPI) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,609 shares of the company’s stock after selling 42 shares during the quarter. Cerity Partners LLC owned about 0.06% of Group 1 Automotive worth $2,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in Group 1 Automotive by 119.4% in the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the period. Fifth Third Bancorp increased its position in shares of Group 1 Automotive by 24.8% in the first quarter. Fifth Third Bancorp now owns 146 shares of the company’s stock valued at $56,000 after buying an additional 29 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Group 1 Automotive during the 1st quarter worth approximately $87,000. GAMMA Investing LLC grew its stake in Group 1 Automotive by 95.9% in the 1st quarter. GAMMA Investing LLC now owns 237 shares of the company’s stock valued at $91,000 after acquiring an additional 116 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Group 1 Automotive by 840.0% in the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the company’s stock worth $178,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Buying and Selling

In related news, CFO Daniel James Mchenry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total value of $1,325,130.00. Following the completion of the transaction, the chief financial officer directly owned 16,674 shares of the company’s stock, valued at $7,365,072.54. This represents a 15.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael David Jones sold 1,613 shares of the firm’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 sale, the vice president directly owned 8,260 shares in the company, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Group 1 Automotive Stock Up 1.3%

Shares of NYSE:GPI opened at $411.51 on Friday. The firm has a market capitalization of $5.32 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90. Group 1 Automotive, Inc. has a 1 year low of $298.92 and a 1 year high of $490.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 0.27. The firm’s 50-day moving average is $440.58 and its two-hundred day moving average is $431.23.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, April 24th. The company reported $10.17 earnings per share for the quarter, topping the consensus estimate of $9.68 by $0.49. Group 1 Automotive had a net margin of 2.27% and a return on equity of 17.96%. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $9.49 EPS. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. Analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.00 annualized dividend and a yield of 0.49%. Group 1 Automotive’s payout ratio is 5.61%.

Wall Street Analysts Forecast Growth

GPI has been the topic of a number of research analyst reports. Guggenheim lowered Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 14th. Benchmark started coverage on shares of Group 1 Automotive in a report on Tuesday, June 24th. They set a “hold” rating for the company. JPMorgan Chase & Co. cut shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $435.00 to $415.00 in a research report on Thursday. Citigroup boosted their price target on shares of Group 1 Automotive from $463.00 to $495.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Bank of America increased their price objective on shares of Group 1 Automotive from $510.00 to $565.00 and gave the company a “buy” rating in a report on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $470.14.

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.