Crossmark Global Holdings Inc. Buys New Shares in Penske Automotive Group, Inc. (NYSE:PAG)

Crossmark Global Holdings Inc. bought a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,363 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors have also bought and sold shares of the business. Applied Capital LLC FL boosted its stake in shares of Penske Automotive Group by 0.4% in the third quarter. Applied Capital LLC FL now owns 21,176 shares of the company’s stock worth $3,439,000 after acquiring an additional 77 shares during the period. Arizona State Retirement System grew its holdings in Penske Automotive Group by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock valued at $838,000 after buying an additional 84 shares in the last quarter. Fifth Third Bancorp raised its position 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 valued at $56,000 after buying an additional 91 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Penske Automotive Group by 1.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company’s stock valued at $1,041,000 after buying an additional 102 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Penske Automotive Group by 17.5% during the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.1 %

Shares of NYSE PAG opened at $160.47 on Tuesday. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The business’s 50 day moving average is $156.44 and its two-hundred day moving average is $156.35. The stock has a market capitalization of $10.71 billion, a P/E ratio of 12.30 and a beta of 1.17.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.90 EPS. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.63 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. Investors of record on Friday, November 15th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost 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 2.97%. Penske Automotive Group’s payout ratio is currently 36.48%.

Analyst Upgrades and Downgrades

PAG has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. Bank of America increased their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 10th. Finally, Stephens started coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price for the company.

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.