Patriot Financial Group Insurance Agency LLC Boosts Holdings in Genuine Parts (NYSE:GPC)

Patriot Financial Group Insurance Agency LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,122 shares of the specialty retailer’s stock after buying an additional 241 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Genuine Parts were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter valued at about $31,000. Concord Wealth Partners grew its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the third quarter worth about $44,000. Finally, First Financial Corp IN purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $44,000. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GPC. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group reduced their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $141.50.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 2.2 %

Shares of NYSE GPC opened at $117.52 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a 50-day simple moving average of $120.06 and a two-hundred day simple moving average of $129.61. The company has a market cap of $16.34 billion, a P/E ratio of 15.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. Genuine Parts’s payout ratio is 51.48%.

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.