Kendall Capital Management Has $1.66 Million Position in Penske Automotive Group, Inc. (NYSE:PAG)

Kendall Capital Management lowered its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,140 shares of the company’s stock after selling 721 shares during the quarter. Kendall Capital Management’s holdings in Penske Automotive Group were worth $1,660,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Hsbc Holdings PLC raised its position in shares of Penske Automotive Group by 62.4% during the second quarter. Hsbc Holdings PLC now owns 28,035 shares of the company’s stock worth $4,163,000 after purchasing an additional 10,774 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Penske Automotive Group by 55.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,121 shares of the company’s stock worth $588,000 after buying an additional 1,477 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Penske Automotive Group by 14.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,773 shares of the company’s stock worth $562,000 after buying an additional 462 shares in the last quarter. Denali Advisors LLC grew its holdings in shares of Penske Automotive Group by 39.1% during the second quarter. Denali Advisors LLC now owns 5,365 shares of the company’s stock worth $799,000 after buying an additional 1,509 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in shares of Penske Automotive Group during the second quarter worth about $321,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity

In other news, Director John Barr sold 716 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total value of $122,228.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 51.70% of the company’s stock.

Analyst Upgrades and Downgrades

PAG has been the subject of a number of research reports. JPMorgan Chase & Co. increased 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. Bank of America increased their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Stephens started coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $162.40.

Penske Automotive Group Stock Down 0.0 %

PAG stock opened at $157.60 on Thursday. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $161.34 and a two-hundred day moving average price of $155.42. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 10.96 and a beta of 1.16. Penske Automotive Group, Inc. has a twelve month low of $137.95 and a twelve month high of $179.72.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.59 billion. During the same period last year, the company earned $4.41 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts anticipate that Penske Automotive Group, Inc. will post 13.79 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date was Thursday, August 15th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.76%.

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.