Securian Asset Management Inc. Has $867,000 Position in Genuine Parts Company $GPC

Securian Asset Management Inc. lessened its position in Genuine Parts Company (NYSE:GPC) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,149 shares of the specialty retailer’s stock after selling 200 shares during the period. Securian Asset Management Inc.’s holdings in Genuine Parts were worth $867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. Goldman Sachs Group Inc. increased its holdings in Genuine Parts by 276.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Genuine Parts by 377.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock worth $113,233,000 after purchasing an additional 737,836 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after purchasing an additional 498,469 shares in the last quarter. Nuveen LLC acquired a new position in Genuine Parts in the 1st quarter worth about $41,646,000. Finally, Pzena Investment Management LLC acquired a new position in Genuine Parts in the 1st quarter worth about $35,860,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial increased their price target on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. UBS Group increased their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, Loop Capital increased their price target on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average target price of $143.33.

Genuine Parts Stock Up 0.3%

Shares of Genuine Parts stock opened at $133.30 on Friday. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The stock’s 50-day moving average is $137.30 and its 200 day moving average is $128.23. The firm has a market cap of $18.54 billion, a price-to-earnings ratio of 22.94 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were given a dividend of $1.03 per share. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Insider Activity at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the sale, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.