Corebridge Financial Inc. Trims Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Corebridge Financial Inc. cut its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,042 shares of the company’s stock after selling 553 shares during the period. Corebridge Financial Inc. owned 0.05% of Group 1 Automotive worth $2,968,000 at the end of the most recent reporting period.

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

Group 1 Automotive Stock Performance

GPI stock opened at $382.31 on Tuesday. The stock’s 50 day simple moving average is $441.48 and its 200 day simple moving average is $414.17. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Group 1 Automotive, Inc. has a 12-month low of $262.31 and a 12-month high of $490.09. The stock has a market capitalization of $5.06 billion, a PE ratio of 10.40 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 EPS 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%. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, March 3rd. Group 1 Automotive’s payout ratio is presently 5.44%.

Analyst Ratings Changes

GPI has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Stephens restated an “equal weight” rating and issued a $460.00 price target on shares of Group 1 Automotive in a research note on Thursday, January 30th. Finally, Jefferies Financial Group started coverage on Group 1 Automotive in a research note on Friday, December 13th. They set a “buy” rating and a $500.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $450.33.

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.