KLP Kapitalforvaltning AS Takes $1.60 Million Position in Group 1 Automotive, Inc. (NYSE:GPI)

KLP Kapitalforvaltning AS acquired a new stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,800 shares of the company’s stock, valued at approximately $1,602,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. R Squared Ltd purchased a new stake in Group 1 Automotive during the fourth quarter worth $30,000. GAMMA Investing LLC raised its position in shares of Group 1 Automotive by 70.4% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock worth $51,000 after acquiring an additional 50 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Group 1 Automotive by 25.6% during the 4th quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock worth $64,000 after purchasing an additional 31 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Group 1 Automotive during the fourth quarter valued at about $66,000. Finally, Global Retirement Partners LLC grew its stake in Group 1 Automotive by 59.3% in the fourth quarter. Global Retirement Partners LLC now owns 188 shares of the company’s stock valued at $79,000 after purchasing an additional 70 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on GPI shares. Stephens reissued an “equal weight” rating and set a $460.00 price target on shares of Group 1 Automotive in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their target price on shares of Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group assumed coverage on Group 1 Automotive in a research report on Friday, December 13th. They set a “buy” rating and a $500.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average target price of $450.33.

Group 1 Automotive Trading Down 4.3 %

NYSE GPI opened at $376.32 on Friday. Group 1 Automotive, Inc. has a 12-month low of $262.31 and a 12-month high of $490.09. The company has a fifty day simple moving average of $442.80 and a two-hundred day simple moving average of $412.94. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a market cap of $4.98 billion, a P/E ratio of 10.24 and a beta of 1.33.

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

Group 1 Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 3rd. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a yield of 0.53%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 5.44%.

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.