Virtu Financial LLC Buys New Shares in Penske Automotive Group, Inc. (NYSE:PAG)

Virtu Financial LLC bought a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,607 shares of the company’s stock, valued at approximately $579,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock valued at $58,000 after buying an additional 165 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its position in Penske Automotive Group by 305.5% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company’s stock worth $173,000 after purchasing an additional 782 shares during the period. NDVR Inc. bought a new position in Penske Automotive Group during the fourth quarter worth $203,000. Atria Wealth Solutions Inc. bought a new position in Penske Automotive Group during the third quarter worth $218,000. Finally, TFO Wealth Partners LLC boosted its position in Penske Automotive Group by 35,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company’s stock worth $226,000 after purchasing an additional 1,404 shares during the period. 77.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PAG. Morgan Stanley lifted their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Bank of America lifted their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $163.20.

Penske Automotive Group Stock Up 1.9 %

PAG opened at $147.51 on Tuesday. Penske Automotive Group, Inc. has a fifty-two week low of $137.95 and a fifty-two week high of $180.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The company has a market capitalization of $9.87 billion, a P/E ratio of 10.26 and a beta of 1.19. The stock has a fifty day moving average of $152.16 and a 200-day moving average of $153.41.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the business posted $4.31 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.37 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, May 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.87. Penske Automotive Group’s dividend payout ratio (DPR) is currently 26.70%.

Penske Automotive Group Profile

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.