Alliancebernstein L.P. Grows Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Alliancebernstein L.P. raised its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 396,401 shares of the company’s stock after acquiring an additional 9,587 shares during the period. Alliancebernstein L.P.’s holdings in Group 1 Automotive were worth $167,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in Group 1 Automotive by 2.3% during the third quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock worth $55,701,000 after acquiring an additional 3,507 shares during the period. Boston Partners increased its holdings in shares of Group 1 Automotive by 3.3% in the 4th quarter. Boston Partners now owns 74,844 shares of the company’s stock valued at $31,653,000 after purchasing an additional 2,405 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Group 1 Automotive by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 154,923 shares of the company’s stock valued at $65,297,000 after purchasing an additional 2,000 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in Group 1 Automotive during the fourth quarter worth about $295,000. Finally, Raymond James Financial Inc. purchased a new position in Group 1 Automotive in the fourth quarter valued at about $21,608,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Stock Up 1.9 %

Shares of NYSE:GPI opened at $389.34 on Wednesday. The company has a market capitalization of $5.16 billion, a P/E ratio of 10.59 and a beta of 1.33. The stock’s fifty day simple moving average is $440.31 and its 200-day simple moving average is $414.35. Group 1 Automotive, Inc. has a 52-week low of $262.31 and a 52-week high of $490.09. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 0.92.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The company 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 a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, March 3rd. Group 1 Automotive’s payout ratio is presently 5.44%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GPI. Stephens reaffirmed an “equal weight” rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research note on Thursday, January 30th. Jefferies Financial Group began coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.33.

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.