Principal Financial Group Inc. Decreases Stake in Group 1 Automotive, Inc. $GPI

Principal Financial Group Inc. trimmed its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,258 shares of the company’s stock after selling 1,596 shares during the period. Principal Financial Group Inc. owned 0.48% of Group 1 Automotive worth $26,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Strategies Group Inc. grew its position in Group 1 Automotive by 13.5% during the third quarter. Financial Strategies Group Inc. now owns 2,096 shares of the company’s stock valued at $917,000 after acquiring an additional 250 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Group 1 Automotive by 10.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 131,085 shares of the company’s stock worth $57,350,000 after acquiring an additional 12,566 shares during the period. Keybank National Association OH grew its holdings in Group 1 Automotive by 58.7% in the 3rd quarter. Keybank National Association OH now owns 1,216 shares of the company’s stock worth $532,000 after buying an additional 450 shares in the last quarter. Truist Financial Corp lifted its position in Group 1 Automotive by 1.1% in the third quarter. Truist Financial Corp now owns 12,326 shares of the company’s stock worth $5,393,000 after purchasing an additional 132 shares during the period. Finally, OneAscent Wealth Management LLC grew its stake in shares of Group 1 Automotive by 9.3% in the 3rd quarter. OneAscent Wealth Management LLC now owns 542 shares of the company’s stock worth $237,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $347.07 on Friday. The stock has a market cap of $4.38 billion, a PE ratio of 13.88 and a beta of 0.90. Group 1 Automotive, Inc. has a 52 week low of $338.68 and a 52 week high of $490.09. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average is $395.37 and its 200 day moving average is $418.77.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, January 29th. The company reported $8.49 EPS for the quarter, missing analysts’ consensus estimates of $9.36 by ($0.87). The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Group 1 Automotive had a return on equity of 17.00% and a net margin of 1.44%.The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $10.02 EPS. Research analysts anticipate that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive declared that its board has authorized a stock buyback plan on Tuesday, November 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. Group 1 Automotive’s dividend payout ratio is presently 8.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Benchmark reaffirmed a “hold” rating on shares of Group 1 Automotive in a report on Friday, January 9th. Barclays set a $470.00 target price on Group 1 Automotive in a research report on Monday. Weiss Ratings cut shares of Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Morgan Stanley set a $460.00 target price on Group 1 Automotive in a report on Monday, December 8th. Finally, Evercore started coverage on shares of Group 1 Automotive in a report on Tuesday, January 20th. They set an “outperform” rating and a $500.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $472.29.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.