Zurich Insurance Group Ltd FI Has $2.31 Million Holdings in Genuine Parts (NYSE:GPC)

Zurich Insurance Group Ltd FI lifted its stake in shares of Genuine Parts (NYSE:GPC) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,788 shares of the specialty retailer’s stock after buying an additional 4,288 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Genuine Parts were worth $2,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Genuine Parts during the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter worth about $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the 4th quarter valued at about $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts in the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new position in Genuine Parts during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.8%

NYSE:GPC opened at $128.09 on Wednesday. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $152.12. The firm has a 50-day moving average price of $118.14 and a two-hundred day moving average price of $119.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 19.80 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, equities analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Truist Financial upped their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Argus raised shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.86.

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.