Penske Automotive Group, Inc. (NYSE:PAG) Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,106 shares of the company’s stock after selling 1,000 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Penske Automotive Group were worth $1,641,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Penske Automotive Group by 4.8% in the first quarter. Janus Henderson Group PLC now owns 30,736 shares of the company’s stock valued at $4,980,000 after purchasing an additional 1,405 shares in the last quarter. Tidal Investments LLC bought a new position in Penske Automotive Group during the first quarter valued at about $954,000. Cetera Advisors LLC bought a new position in shares of Penske Automotive Group in the 1st quarter valued at approximately $230,000. CWM LLC raised its position in shares of Penske Automotive Group by 94.5% in the second quarter. CWM LLC now owns 4,505 shares of the company’s stock valued at $671,000 after purchasing an additional 2,189 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Penske Automotive Group by 1.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company’s stock worth $1,041,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens began coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th.

Penske Automotive Group Stock Performance

NYSE PAG opened at $170.38 on Tuesday. The company’s fifty day moving average is $157.35 and its two-hundred day moving average is $156.60. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week 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 firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 13.06 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 analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.90 earnings per share. Equities research analysts forecast that Penske Automotive Group, Inc. will post 13.53 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a $1.19 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s dividend payout ratio (DPR) is 36.48%.

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.