Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp lifted its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 39.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,986 shares of the company’s stock after buying an additional 839 shares during the quarter. Stifel Financial Corp’s holdings in Penske Automotive Group were worth $485,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PAG. AQR Capital Management LLC grew its holdings in Penske Automotive Group by 31.1% in the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock valued at $62,280,000 after purchasing an additional 99,164 shares during the period. International Assets Investment Management LLC lifted its position in shares of Penske Automotive Group by 12,674.5% during the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock valued at $9,606,000 after buying an additional 58,683 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its stake in Penske Automotive Group by 720.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company’s stock valued at $3,546,000 after acquiring an additional 20,896 shares during the period. Texas Permanent School Fund Corp increased its holdings in Penske Automotive Group by 88.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company’s stock worth $4,800,000 after acquiring an additional 15,151 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Penske Automotive Group by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company’s stock worth $115,874,000 after acquiring an additional 13,968 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAG has been the subject of several recent research reports. 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. Stephens started coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price for the company. Benchmark assumed coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Hold” and a consensus price target of $170.25.

Penske Automotive Group Trading Down 0.4 %

NYSE PAG opened at $156.94 on Friday. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $179.72. The firm has a 50 day moving average of $159.73 and a two-hundred day moving average of $158.07. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10.48 billion, a PE ratio of 12.03 and a beta of 1.18.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $3.90 earnings per share. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a $1.19 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.03%. Penske Automotive Group’s dividend payout ratio is presently 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.