Creative Planning Acquires 180 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Creative Planning raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) 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

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. Bank of America upped their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price 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, Stephens assumed coverage on 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Penske Automotive Group has an average rating of “Hold” and an average target price of $175.40.

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) 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.