Penske Automotive Group, Inc. (PAG) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,721 shares of the company’s stock after buying an additional 2,273 shares during the period. Teachers Advisors LLC owned approximately 0.05% of Penske Automotive Group worth $2,047,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC acquired a new position in Penske Automotive Group during the first quarter worth $113,000. Bank of Montreal Can increased its position in Penske Automotive Group by 10.9% in the first quarter. Bank of Montreal Can now owns 2,787 shares of the company’s stock worth $131,000 after buying an additional 275 shares in the last quarter. Glen Harbor Capital Management LLC acquired a new position in Penske Automotive Group during the first quarter worth $137,000. Pacer Advisors Inc. increased its position in Penske Automotive Group by 22.1% in the first quarter. Pacer Advisors Inc. now owns 5,230 shares of the company’s stock worth $245,000 after buying an additional 945 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Penske Automotive Group during the first quarter worth $276,000. Institutional investors own 39.77% of the company’s stock.
Penske Automotive Group, Inc. (NYSE PAG) traded up 1.69% on Friday, hitting $39.70. 559,897 shares of the stock were exchanged. The stock has a market capitalization of $3.41 billion, a P/E ratio of 9.46 and a beta of 1.48. The company has a 50 day moving average of $43.03 and a 200 day moving average of $45.73. Penske Automotive Group, Inc. has a one year low of $38.33 and a one year high of $56.05.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.07. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.44 billion. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 earnings per share. On average, equities research analysts forecast that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, August 8th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s payout ratio is currently 30.55%.
A number of research analysts have recently weighed in on the stock. Wells Fargo & Company restated a “market perform” rating and set a $46.00 price target (down previously from $54.00) on shares of Penske Automotive Group in a report on Monday, July 17th. BidaskClub upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. ValuEngine downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Gabelli upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.67.
In other news, EVP Claude H. Denker III sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total value of $206,350.00. Following the sale, the executive vice president now owns 22,243 shares of the company’s stock, valued at $917,968.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Shane M. Spradlin sold 1,900 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $43.64, for a total transaction of $82,916.00. The disclosure for this sale can be found here. In the last three months, insiders sold 18,072 shares of company stock worth $763,853. 40.70% of the stock is currently owned by insiders.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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