Congress Asset Management Co. Sells 335 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Congress Asset Management Co. decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,122 shares of the company’s stock after selling 335 shares during the period. Congress Asset Management Co. owned approximately 0.21% of Group 1 Automotive worth $10,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. bought a new stake in Group 1 Automotive during the 3rd quarter valued at $106,000. Assenagon Asset Management S.A. raised its position in Group 1 Automotive by 57.4% in the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after acquiring an additional 23,051 shares during the period. Raymond James & Associates lifted its stake in Group 1 Automotive by 14.7% in the third quarter. Raymond James & Associates now owns 46,483 shares of the company’s stock valued at $17,805,000 after purchasing an additional 5,942 shares during the last quarter. Blue Trust Inc. grew its holdings in Group 1 Automotive by 43.7% during the third quarter. Blue Trust Inc. now owns 388 shares of the company’s stock valued at $149,000 after purchasing an additional 118 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Group 1 Automotive in the third quarter worth $345,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Trading Down 3.5 %

NYSE GPI opened at $364.50 on Friday. The stock’s 50-day simple moving average is $365.22 and its two-hundred day simple moving average is $329.12. Group 1 Automotive, Inc. has a twelve month low of $246.02 and a twelve month high of $393.93. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.93 and a beta of 1.32.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.93 by ($0.03). Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.83%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the firm earned $12.07 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that Group 1 Automotive, Inc. will post 38.99 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, August 30th. Group 1 Automotive’s payout ratio is 5.01%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of the company’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 sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GPI has been the topic of a number of research reports. Bank of America lowered their price objective on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Stephens assumed coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $396.80.

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.