TD Asset Management Inc Sells 1,388 Shares of Group 1 Automotive, Inc. $GPI

TD Asset Management Inc reduced its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 22.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,741 shares of the company’s stock after selling 1,388 shares during the quarter. TD Asset Management Inc’s holdings in Group 1 Automotive were worth $2,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GPI. GAMMA Investing LLC lifted its position in shares of Group 1 Automotive by 95.9% during the 1st quarter. GAMMA Investing LLC now owns 237 shares of the company’s stock worth $91,000 after buying an additional 116 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Group 1 Automotive by 68.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company’s stock worth $4,799,000 after buying an additional 5,091 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Group 1 Automotive by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,383 shares of the company’s stock worth $1,292,000 after buying an additional 48 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Group 1 Automotive by 60.3% during the 1st quarter. Bessemer Group Inc. now owns 109 shares of the company’s stock worth $41,000 after buying an additional 41 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Group 1 Automotive by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company’s stock worth $983,000 after buying an additional 903 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lincoln Pereira sold 7,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total value of $3,285,380.00. Following the completion of the sale, the director owned 82,967 shares of the company’s stock, valued at approximately $38,939,731.78. This represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Mizell sold 525 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $417.98, for a total value of $219,439.50. Following the sale, the director directly owned 8 shares of the company’s stock, valued at $3,343.84. This represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

GPI has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on Group 1 Automotive from $430.00 to $435.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on Group 1 Automotive from $470.00 to $485.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Benchmark began coverage on Group 1 Automotive in a report on Tuesday, June 24th. They issued a “hold” rating for the company. Bank of America lowered their target price on Group 1 Automotive from $560.00 to $545.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Finally, Wall Street Zen cut Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $478.00.

Group 1 Automotive Trading Up 1.1%

Shares of GPI stock opened at $450.47 on Wednesday. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.20 and a beta of 0.85. The stock has a 50-day moving average of $452.59 and a 200-day moving average of $435.19. The company has a current ratio of 1.05, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. Group 1 Automotive, Inc. has a 1-year low of $344.38 and a 1-year high of $490.09.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, July 24th. The company reported $11.52 earnings per share for the quarter, beating the consensus estimate of $10.31 by $1.21. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%.The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.82 earnings per share. On average, equities research analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.4%. Group 1 Automotive’s dividend payout ratio is presently 5.51%.

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.