EverSource Wealth Advisors LLC Grows Position in Group 1 Automotive, Inc. (NYSE:GPI)

EverSource Wealth Advisors LLC grew its position in Group 1 Automotive, Inc. (NYSE:GPI) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 346 shares of the company’s stock after acquiring an additional 41 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Group 1 Automotive were worth $146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GPI. State Street Corp grew its holdings in shares of Group 1 Automotive by 2.1% in the third quarter. State Street Corp now owns 541,766 shares of the company’s stock valued at $207,518,000 after purchasing an additional 10,969 shares in the last quarter. FMR LLC lifted its position in Group 1 Automotive by 133.0% during the third quarter. FMR LLC now owns 407,930 shares of the company’s stock valued at $156,253,000 after purchasing an additional 232,846 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Group 1 Automotive by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock worth $117,080,000 after buying an additional 1,985 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Group 1 Automotive by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock worth $55,701,000 after buying an additional 3,507 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Group 1 Automotive by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 154,923 shares of the company’s stock valued at $65,297,000 after buying an additional 2,000 shares in the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $392.82 on Tuesday. The stock has a 50 day moving average price of $448.42 and a 200 day moving average price of $411.41. The firm has a market capitalization of $5.20 billion, a P/E ratio of 10.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03. Group 1 Automotive, Inc. has a 52-week low of $262.31 and a 52-week high of $490.09.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.50 dividend. This is an increase 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 0.51%. The ex-dividend date was Monday, March 3rd. Group 1 Automotive’s dividend payout ratio is currently 5.44%.

Analyst Ratings Changes

GPI has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Group 1 Automotive from $420.00 to $495.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group began coverage on Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 price objective for the company. Stephens reissued an “equal weight” rating and set a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. Finally, Guggenheim raised their price target on Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $460.33.

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.