American Century Companies Inc. Purchases 360 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Posted by Defense World Staff on Jun 8th, 2023

American Century Companies Inc. raised its position in Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,206 shares of the company’s stock after buying an additional 360 shares during the quarter. American Century Companies Inc. owned about 0.62% of Group 1 Automotive worth $16,270,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Group 1 Automotive by 68.0% during the first quarter. Goldman Sachs Group Inc. now owns 621,455 shares of the company’s stock worth $104,299,000 after purchasing an additional 251,565 shares during the period. Clearbridge Investments LLC purchased a new position in Group 1 Automotive in the 1st quarter valued at approximately $12,452,000. Hodges Capital Management Inc. bought a new stake in Group 1 Automotive during the 4th quarter valued at $4,328,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Group 1 Automotive by 28.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 98,100 shares of the company’s stock worth $14,016,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Group 1 Automotive by 206.9% in the first quarter. Royal Bank of Canada now owns 31,641 shares of the company’s stock worth $5,311,000 after acquiring an additional 21,331 shares during the period. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

GPI has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Group 1 Automotive from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 21st. StockNews.com assumed coverage on shares of Group 1 Automotive in a research note on Thursday, May 18th. They set a “buy” rating for the company.

Group 1 Automotive Stock Up 3.2 %

Shares of NYSE:GPI opened at $246.01 on Thursday. Group 1 Automotive, Inc. has a 1 year low of $136.16 and a 1 year high of $247.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.27. The stock’s 50-day moving average is $224.16 and its 200 day moving average is $210.24. The company has a market cap of $3.48 billion, a PE ratio of 5.32, a P/E/G ratio of 1.89 and a beta of 1.47.

Group 1 Automotive (NYSE:GPI – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The company reported $10.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.70 by $1.23. Group 1 Automotive had a net margin of 4.20% and a return on equity of 31.16%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned $10.81 earnings per share. Group 1 Automotive’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that Group 1 Automotive, Inc. will post 40.94 EPS for the current year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.80 dividend on an annualized basis and a yield of 0.73%. Group 1 Automotive’s dividend payout ratio is currently 3.89%.

Insiders Place Their Bets

In related news, VP Edward Mckissic sold 140 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $220.00, for a total value of $30,800.00. Following the transaction, the vice president now directly owns 2,837 shares of the company’s stock, valued at approximately $624,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Group 1 Automotive Company Profile

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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.