XTX Topco Ltd Buys New Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

XTX Topco Ltd purchased a new position in Penske Automotive Group, Inc. (NYSE:PAG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,755 shares of the company’s stock, valued at approximately $709,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after purchasing an additional 91 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Penske Automotive Group during the 2nd quarter valued at about $69,000. WFA Asset Management Corp acquired a new position in shares of Penske Automotive Group in the 1st quarter valued at about $84,000. Blue Trust Inc. lifted its holdings in shares of Penske Automotive Group by 17.5% in the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after buying an additional 113 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in shares of Penske Automotive Group by 35,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company’s stock worth $226,000 after buying an additional 1,404 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Trading Down 2.1 %

Shares of PAG stock opened at $158.49 on Monday. Penske Automotive Group, Inc. has a 1-year low of $137.95 and a 1-year high of $179.72. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 11.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22. The stock has a 50 day simple moving average of $161.59 and a 200-day simple moving average of $155.54.

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

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.70%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, August 15th. Penske Automotive Group’s payout ratio is presently 29.76%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PAG shares. JPMorgan Chase & Co. lifted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research report on Tuesday, September 10th. Bank of America lifted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Stephens initiated coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.40.

Insiders Place Their Bets

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 filing with the SEC, which is available at the SEC website. 51.70% of the stock is owned by company insiders.

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.