JPMorgan Chase & Co. Buys 1,725 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

JPMorgan Chase & Co. lifted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,950 shares of the company’s stock after acquiring an additional 1,725 shares during the period. JPMorgan Chase & Co.’s holdings in Penske Automotive Group were worth $390,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Penske Automotive Group by 17.1% in the first quarter. Rhumbline Advisers now owns 69,351 shares of the company’s stock valued at $1,942,000 after purchasing an additional 10,144 shares in the last quarter. Franklin Resources Inc. lifted its stake in Penske Automotive Group by 18.3% in the fourth quarter. Franklin Resources Inc. now owns 10,708 shares of the company’s stock valued at $537,000 after acquiring an additional 1,653 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Penske Automotive Group in the fourth quarter valued at $134,000. State Street Corp lifted its stake in Penske Automotive Group by 1.6% in the first quarter. State Street Corp now owns 647,040 shares of the company’s stock valued at $18,117,000 after acquiring an additional 10,284 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Penske Automotive Group by 21.0% in the fourth quarter. AQR Capital Management LLC now owns 271,839 shares of the company’s stock valued at $13,652,000 after acquiring an additional 47,242 shares during the last quarter. 39.74% of the stock is owned by institutional investors and hedge funds.

Shares of Penske Automotive Group stock opened at $38.54 on Wednesday. The firm has a market capitalization of $3.10 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 4.09 and a beta of 1.64. The company has a current ratio of 1.03, a quick ratio of 0.22 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $37.12 and its 200 day moving average is $40.66. Penske Automotive Group, Inc. has a 1 year low of $19.99 and a 1 year high of $53.81.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, May 6th. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.05). Penske Automotive Group had a return on equity of 14.32% and a net margin of 1.72%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The company’s revenue was down 10.0% compared to the same quarter last year. As a group, research analysts anticipate that Penske Automotive Group, Inc. will post 2.6 earnings per share for the current year.

A number of analysts have recently issued reports on the stock. SunTrust Banks raised their target price on shares of Penske Automotive Group from $42.00 to $48.00 in a research note on Wednesday, June 10th. Benchmark upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, June 23rd. Zacks Investment Research cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating and set a $28.00 target price for the company. in a research note on Tuesday, April 7th. JPMorgan Chase & Co. cut their target price on shares of Penske Automotive Group from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. Finally, Stephens dropped their price objective on shares of Penske Automotive Group from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.38.

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.

Further Reading: Understanding each part of a balance sheet

Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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