PNC Financial Services Group Inc. Boosts Stake in Group 1 Automotive, Inc. (NYSE:GPI)

PNC Financial Services Group Inc. lifted its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,144 shares of the company’s stock after acquiring an additional 30 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Group 1 Automotive were worth $437,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in Group 1 Automotive by 2.9% in the fourth quarter. Bank of Montreal Can now owns 5,874 shares of the company’s stock valued at $2,476,000 after acquiring an additional 163 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Group 1 Automotive during the fourth quarter worth $21,608,000. Bessemer Group Inc. increased its holdings in Group 1 Automotive by 119.4% in the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock valued at $29,000 after buying an additional 37 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Group 1 Automotive by 840.0% in the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the company’s stock valued at $178,000 after buying an additional 378 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in shares of Group 1 Automotive during the fourth quarter worth about $391,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GPI shares. Wall Street Zen cut shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Guggenheim lowered shares of Group 1 Automotive from a “buy” rating to a “neutral” rating in a report on Wednesday, May 14th. Bank of America upped their price objective on shares of Group 1 Automotive from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Monday, June 16th. JPMorgan Chase & Co. upped their target price on shares of Group 1 Automotive from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $485.00 price objective on shares of Group 1 Automotive and gave the company an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $479.43.

Insider Activity

In other Group 1 Automotive news, Director Steven Mizell sold 525 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total transaction of $219,439.50. Following the completion of the transaction, the director directly owned 8 shares in the company, valued at approximately $3,343.84. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel James Mchenry sold 3,000 shares of Group 1 Automotive stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total transaction of $1,325,130.00. Following the sale, the chief financial officer owned 16,674 shares of the company’s stock, valued at approximately $7,365,072.54. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Group 1 Automotive Stock Down 1.8%

Shares of NYSE:GPI opened at $451.19 on Friday. The stock has a market cap of $5.84 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.15 and a beta of 0.83. The firm has a fifty day moving average price of $437.36 and a 200 day moving average price of $429.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.05 and a quick ratio of 0.24. Group 1 Automotive, Inc. has a 1-year low of $336.33 and a 1-year high of $490.09.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, July 24th. The company reported $11.52 EPS for the quarter, topping the consensus estimate of $10.31 by $1.21. Group 1 Automotive had a net margin of 2.18% and a return on equity of 18.10%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business earned $9.82 EPS. The business’s revenue was up 21.4% on a year-over-year basis. Sell-side analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.4%. Group 1 Automotive’s dividend payout ratio (DPR) is 5.51%.

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.