Creative Planning Boosts Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Creative Planning increased its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 33.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,822 shares of the company’s stock after acquiring an additional 949 shares during the period. Creative Planning’s holdings in Group 1 Automotive were worth $1,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Group 1 Automotive by 23.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,350 shares of the company’s stock worth $2,814,000 after purchasing an additional 1,400 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Group 1 Automotive by 42.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 4,058 shares of the company’s stock worth $1,554,000 after buying an additional 1,200 shares during the last quarter. SG Americas Securities LLC boosted its stake in Group 1 Automotive by 87.6% in the third quarter. SG Americas Securities LLC now owns 741 shares of the company’s stock worth $284,000 after buying an additional 346 shares in the last quarter. Cetera Investment Advisers grew its position in Group 1 Automotive by 6.9% during the second quarter. Cetera Investment Advisers now owns 4,153 shares of the company’s stock valued at $1,235,000 after acquiring an additional 269 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Group 1 Automotive by 48.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,079 shares of the company’s stock worth $2,105,000 after acquiring an additional 2,308 shares in the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael David Jones sold 1,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the sale, the vice president now owns 9,742 shares of the company’s stock, valued at $3,419,344.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Group 1 Automotive Stock Performance

Group 1 Automotive stock opened at $355.35 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The firm has a market cap of $4.81 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.76 and a beta of 1.32. Group 1 Automotive, Inc. has a 1-year low of $246.02 and a 1-year high of $393.93. The firm has a 50-day moving average of $364.82 and a 200-day moving average of $328.17.

Group 1 Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.53%. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Analysts Set New Price Targets

GPI has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America cut their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price for the company. Finally, StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.80.

Group 1 Automotive 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.