Oppenheimer Asset Management Inc. Has $1.41 Million Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Oppenheimer Asset Management Inc. raised its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 3.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,335 shares of the company’s stock after buying an additional 110 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Group 1 Automotive were worth $1,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd acquired a new position in Group 1 Automotive during the fourth quarter worth $30,000. Assetmark Inc. boosted its stake in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after buying an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Group 1 Automotive during the 3rd quarter worth about $36,000. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive in the 3rd quarter valued at about $46,000. Finally, GAMMA Investing LLC increased its position in shares of Group 1 Automotive by 70.4% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock valued at $51,000 after acquiring an additional 50 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group assumed coverage on Group 1 Automotive in a report on Friday, December 13th. They issued a “buy” rating and a $500.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $420.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Guggenheim upped their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Stephens reissued an “equal weight” rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Group 1 Automotive presently has an average rating of “Moderate Buy” and an average target price of $460.33.

Insider Activity

In related news, Director Lincoln Pereira sold 6,000 shares of Group 1 Automotive stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the sale, the director now directly owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. This trade represents a 5.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Group 1 Automotive Trading Down 1.9 %

Shares of Group 1 Automotive stock opened at $450.94 on Tuesday. Group 1 Automotive, Inc. has a 1 year low of $258.77 and a 1 year high of $490.09. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 12.27 and a beta of 1.36. The business has a fifty day simple moving average of $447.53 and a two-hundred day simple moving average of $406.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. Research analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. Group 1 Automotive’s payout ratio is currently 5.44%.

Group 1 Automotive announced that its board has authorized a share buyback program on Tuesday, November 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 9.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.