Group 1 Automotive, Inc. Announces Quarterly Dividend of $0.50 (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI) declared a quarterly dividend on Tuesday, November 11th. Stockholders of record on Monday, December 1st will be given a dividend of 0.50 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st.

Group 1 Automotive has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Group 1 Automotive has a dividend payout ratio of 4.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Group 1 Automotive to earn $44.83 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 4.5%.

Group 1 Automotive Trading Up 3.3%

GPI stock traded up $12.39 during trading on Wednesday, hitting $392.41. The company had a trading volume of 106,612 shares, compared to its average volume of 181,579. Group 1 Automotive has a 52-week low of $355.91 and a 52-week high of $490.09. The company has a 50 day simple moving average of $435.28 and a 200-day simple moving average of $436.35. The firm has a market capitalization of $4.96 billion, a P/E ratio of 13.75, a PEG ratio of 1.09 and a beta of 0.91. The company has a quick ratio of 0.24, a current ratio of 1.06 and a debt-to-equity ratio of 1.06.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Tuesday, October 28th. The company reported $10.45 EPS for the quarter, missing analysts’ consensus estimates of $10.64 by ($0.19). Group 1 Automotive had a return on equity of 18.08% and a net margin of 1.67%.The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the prior year, the company earned $9.90 earnings per share. Group 1 Automotive’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts forecast that Group 1 Automotive will post 41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lincoln Pereira sold 7,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the completion of the sale, the director owned 82,967 shares in the company, valued at approximately $38,939,731.78. This represents a 7.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC purchased a new stake in Group 1 Automotive during the 3rd quarter worth approximately $26,000. MAI Capital Management lifted its stake in shares of Group 1 Automotive by 131.3% during the second quarter. MAI Capital Management now owns 74 shares of the company’s stock worth $32,000 after buying an additional 42 shares during the period. Elequin Capital LP purchased a new stake in shares of Group 1 Automotive during the first quarter valued at $29,000. Signaturefd LLC increased its position in shares of Group 1 Automotive by 90.5% in the 2nd quarter. Signaturefd LLC now owns 80 shares of the company’s stock valued at $35,000 after acquiring an additional 38 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Group 1 Automotive in the 2nd quarter worth $43,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

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.