Russell Investments Group Ltd. raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 250.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,911 shares of the company’s stock after buying an additional 67,141 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Penske Automotive Group worth $4,444,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PAG. Ceredex Value Advisors LLC purchased a new stake in shares of Penske Automotive Group during the first quarter worth $29,360,000. Dean Investment Associates LLC acquired a new position in shares of Penske Automotive Group during the 1st quarter valued at about $5,903,000. Geode Capital Management LLC boosted its position in shares of Penske Automotive Group by 13.5% during the 4th quarter. Geode Capital Management LLC now owns 373,864 shares of the company’s stock valued at $15,074,000 after acquiring an additional 44,539 shares during the last quarter. Strs Ohio boosted its position in shares of Penske Automotive Group by 29.6% during the 2nd quarter. Strs Ohio now owns 108,719 shares of the company’s stock valued at $5,142,000 after acquiring an additional 24,846 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Penske Automotive Group by 10.8% during the 1st quarter. First Trust Advisors LP now owns 223,649 shares of the company’s stock valued at $9,986,000 after acquiring an additional 21,759 shares during the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.
In other Penske Automotive Group news, EVP Shane M. Spradlin sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $48.55, for a total value of $121,375.00. Following the transaction, the executive vice president now owns 41,982 shares of the company’s stock, valued at $2,038,226.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 42.60% of the company’s stock.
Shares of PAG stock traded up $0.27 on Friday, hitting $47.96. 362,515 shares of the stock traded hands, compared to its average volume of 322,586. The firm’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $44.82. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.21 and a current ratio of 0.98. The stock has a market capitalization of $3.91 billion, a PE ratio of 9.21, a PEG ratio of 1.63 and a beta of 1.33. Penske Automotive Group, Inc. has a twelve month low of $38.49 and a twelve month high of $53.63.
Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, July 30th. The company reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.17). Penske Automotive Group had a net margin of 2.00% and a return on equity of 16.56%. The company had revenue of $5.76 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the company earned $1.58 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post 5.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.39. Penske Automotive Group’s dividend payout ratio is presently 29.96%.
Several brokerages have recently weighed in on PAG. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research report on Tuesday, May 28th. Northcoast Research reissued a “buy” rating on shares of Penske Automotive Group in a research report on Thursday, August 1st. Morgan Stanley boosted their price target on shares of Penske Automotive Group from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, ValuEngine cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $53.00.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.
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