Group 1 Automotive, Inc. $GPI Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 77.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,898 shares of the company’s stock after selling 26,790 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of Group 1 Automotive worth $3,449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GPI. Legal & General Group Plc lifted its holdings in Group 1 Automotive by 12.0% in the 2nd quarter. Legal & General Group Plc now owns 41,010 shares of the company’s stock valued at $17,909,000 after purchasing an additional 4,407 shares in the last quarter. MAI Capital Management raised its position in shares of Group 1 Automotive by 131.3% in the second quarter. MAI Capital Management now owns 74 shares of the company’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Group 1 Automotive by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 151,190 shares of the company’s stock worth $66,026,000 after buying an additional 13,296 shares in the last quarter. Magnetar Financial LLC acquired a new position in Group 1 Automotive during the second quarter worth about $217,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in Group 1 Automotive by 778.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,270 shares of the company’s stock valued at $2,301,000 after acquiring an additional 4,670 shares in the last quarter. 99.92% of the stock is owned by institutional investors and hedge funds.

Group 1 Automotive Trading Up 0.6%

Shares of Group 1 Automotive stock opened at $402.23 on Wednesday. The stock has a 50 day moving average of $414.24 and a 200 day moving average of $433.54. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.25 and a current ratio of 1.06. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.08 and a beta of 0.90. Group 1 Automotive, Inc. has a fifty-two week low of $355.91 and a fifty-two week high of $490.09.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $10.45 EPS for the quarter, missing the consensus estimate of $10.64 by ($0.19). The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.67 billion. Group 1 Automotive had a net margin of 1.67% and a return on equity of 18.08%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $9.90 EPS. As a group, research analysts predict that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive declared that its board has authorized a share buyback program on Tuesday, November 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 10.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Group 1 Automotive’s dividend payout ratio (DPR) is 7.00%.

Wall Street Analysts Forecast Growth

GPI has been the topic of a number of research reports. Zacks Research lowered shares of Group 1 Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Barclays started coverage on Group 1 Automotive in a report on Tuesday, November 11th. They issued an “overweight” rating and a $510.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Group 1 Automotive in a research note on Monday. Wall Street Zen downgraded Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Citigroup reiterated a “buy” rating on shares of Group 1 Automotive in a report on Thursday, September 25th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive presently has an average rating of “Moderate Buy” and an average target price of $478.88.

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.