Capstone Investment Advisors LLC Lowers Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Capstone Investment Advisors LLC decreased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 46.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,643 shares of the company’s stock after selling 1,409 shares during the period. Capstone Investment Advisors LLC’s holdings in Penske Automotive Group were worth $267,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in Penske Automotive Group by 4.8% in the 1st quarter. Janus Henderson Group PLC now owns 30,736 shares of the company’s stock worth $4,980,000 after buying an additional 1,405 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Penske Automotive Group in the first quarter worth approximately $954,000. Cetera Advisors LLC acquired a new position in Penske Automotive Group during the first quarter worth approximately $230,000. CWM LLC raised its stake in Penske Automotive Group by 94.5% during the second quarter. CWM LLC now owns 4,505 shares of the company’s stock worth $671,000 after purchasing an additional 2,189 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its stake in Penske Automotive Group by 1.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company’s stock worth $1,041,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PAG shares. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Stephens assumed coverage on Penske Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th.

Penske Automotive Group Stock Down 0.1 %

Shares of Penske Automotive Group stock opened at $166.54 on Friday. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $179.72. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 12.76 and a beta of 1.17. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $158.27 and a 200 day moving average price of $156.93.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. Penske Automotive Group’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.90 EPS. Equities research analysts forecast that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $1.19 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s payout ratio is presently 36.48%.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.