Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,392 shares of the company’s stock after selling 294 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Penske Automotive Group were worth $713,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PAG. Fifth Third Bancorp lifted its stake in shares of Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after purchasing an additional 91 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Penske Automotive Group in the second quarter valued at about $69,000. Capital Performance Advisors LLP purchased a new stake in shares of Penske Automotive Group in the third quarter valued at about $112,000. Blue Trust Inc. lifted its holdings in shares of Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after purchasing an additional 113 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Penske Automotive Group in the third quarter valued at approximately $209,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAG has been the topic of a number of recent research reports. Stephens began coverage on Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th.

Penske Automotive Group Stock Performance

Penske Automotive Group stock opened at $166.46 on Wednesday. The firm has a market capitalization of $11.11 billion, a P/E ratio of 12.76 and a beta of 1.18. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $179.72. 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 stock has a fifty day moving average price of $158.54 and a 200 day moving average price of $157.04.

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

Penske Automotive Group Increases Dividend

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