Creative Planning raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 10.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,927 shares of the company’s stock after purchasing an additional 180 shares during the period. Creative Planning’s holdings in Penske Automotive Group were worth $287,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Gabelli Funds LLC increased its position in Penske Automotive Group by 6.2% during the 1st quarter. Gabelli Funds LLC now owns 85,500 shares of the company’s stock valued at $13,850,000 after buying an additional 5,000 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Penske Automotive Group by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,466 shares of the company’s stock worth $4,935,000 after purchasing an additional 4,057 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Penske Automotive Group in the 2nd quarter worth about $1,516,000. Manning & Napier Advisors LLC bought a new position in Penske Automotive Group in the 2nd quarter worth about $3,742,000. Finally, Vanguard Group Inc. grew its position in Penske Automotive Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company’s stock valued at $326,800,000 after purchasing an additional 5,399 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Penske Automotive Group
In other news, Director John Barr sold 716 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 52.20% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Research Report on Penske Automotive Group
Penske Automotive Group Stock Down 0.8 %
Shares of Penske Automotive Group stock opened at $157.18 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Penske Automotive Group, Inc. has a twelve month low of $137.95 and a twelve month high of $179.72. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 11.57 and a beta of 1.16. The company’s 50 day moving average is $160.30 and its 200 day moving average is $155.75.
Penske Automotive Group (NYSE:PAG – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $7.59 billion. During the same period last year, the business posted $4.41 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts anticipate that Penske Automotive Group, Inc. will post 13.78 EPS for the current year.
Penske Automotive Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.19 per share. This is an increase 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 3.03%. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s payout ratio is currently 31.52%.
Penske Automotive Group Company 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.
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