Axa S.A. cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 44.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,800 shares of the company’s stock after selling 2,200 shares during the period. Axa S.A.’s holdings in Group 1 Automotive were worth $400,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of GPI. EverSource Wealth Advisors LLC raised its position in Group 1 Automotive by 81.3% during the third quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Group 1 Automotive by 181.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 262 shares of the company’s stock valued at $37,000 after purchasing an additional 169 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in Group 1 Automotive by 316.2% during the third quarter. Ronald Blue Trust Inc. now owns 283 shares of the company’s stock worth $49,000 after purchasing an additional 215 shares during the period. Islay Capital Management LLC increased its position in Group 1 Automotive by 20.1% during the second quarter. Islay Capital Management LLC now owns 1,069 shares of the company’s stock worth $182,000 after buying an additional 179 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in Group 1 Automotive in the first quarter valued at approximately $202,000. 97.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Group 1 Automotive from a “hold” rating to a “buy” rating in a research note on Friday, February 3rd. Morgan Stanley cut their target price on shares of Group 1 Automotive from $142.00 to $134.00 and set an “underweight” rating for the company in a research note on Tuesday, January 17th. JPMorgan Chase & Co. increased their price target on shares of Group 1 Automotive from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, February 21st. Finally, Stephens boosted their price objective on Group 1 Automotive from $275.00 to $290.00 in a report on Thursday, January 26th.
Group 1 Automotive Stock Up 3.4 %
Group 1 Automotive Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.79%. Group 1 Automotive’s payout ratio is currently 3.32%.
Insider Activity
In related news, VP Darryl M. Burman sold 2,500 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $236.68, for a total value of $591,700.00. Following the completion of the transaction, the vice president now owns 17,259 shares of the company’s stock, valued at $4,084,860.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Lincoln Pereira sold 27,100 shares of the company’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $208.19, for a total transaction of $5,641,949.00. Following the completion of the sale, the director now directly owns 117,367 shares in the company, valued at approximately $24,434,635.73. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Darryl M. Burman sold 2,500 shares of Group 1 Automotive stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $236.68, for a total value of $591,700.00. Following the completion of the transaction, the vice president now owns 17,259 shares in the company, valued at approximately $4,084,860.12. The disclosure for this sale can be found here. In the last three months, insiders sold 32,100 shares of company stock worth $6,747,399. 3.80% of the stock is currently owned by company insiders.
About Group 1 Automotive
Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.
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