Algert Global LLC Has $27.99 Million Stake in Group 1 Automotive, Inc. $GPI

Algert Global LLC raised its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 365.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,980 shares of the company’s stock after purchasing an additional 50,248 shares during the period. Group 1 Automotive accounts for approximately 0.5% of Algert Global LLC’s investment portfolio, making the stock its 13th biggest position. Algert Global LLC owned approximately 0.51% of Group 1 Automotive worth $27,992,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Group 1 Automotive by 34.8% in the 3rd quarter. Victory Capital Management Inc. now owns 226,915 shares of the company’s stock valued at $99,278,000 after buying an additional 58,641 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Group 1 Automotive by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 184,732 shares of the company’s stock worth $80,822,000 after acquiring an additional 33,542 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Group 1 Automotive during the third quarter worth approximately $75,315,000. Norges Bank bought a new stake in shares of Group 1 Automotive during the second quarter worth approximately $70,561,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Group 1 Automotive by 10.6% in the third quarter. Thrivent Financial for Lutherans now owns 131,085 shares of the company’s stock valued at $57,350,000 after purchasing an additional 12,566 shares during the last quarter. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Trading Down 0.3%

NYSE GPI opened at $300.01 on Friday. The business’s fifty day moving average is $355.82 and its 200 day moving average is $399.99. Group 1 Automotive, Inc. has a twelve month low of $298.21 and a twelve month high of $488.39. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91. The company has a quick ratio of 0.27, a current ratio of 1.08 and a debt-to-equity ratio of 1.23.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, January 29th. The company reported $8.49 earnings per share for the quarter, missing the consensus estimate of $9.36 by ($0.87). The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.71 billion. Group 1 Automotive had a return on equity of 17.39% and a net margin of 1.44%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.02 EPS. As a group, sell-side analysts expect that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.55 per share. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, March 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is currently 8.80%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GPI. JPMorgan Chase & Co. upgraded Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $370.00 price objective on the stock in a research report on Friday, February 20th. Evercore initiated coverage on shares of Group 1 Automotive in a research report on Tuesday, January 20th. They issued an “outperform” rating and a $500.00 target price for the company. Morgan Stanley decreased their price target on shares of Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Barclays set a $470.00 price objective on shares of Group 1 Automotive in a research note on Monday, February 2nd. Finally, Weiss Ratings downgraded shares of Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Group 1 Automotive presently has an average rating of “Moderate Buy” and an average price target of $458.00.

About Group 1 Automotive

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.