Advisor Group Inc. increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,607 shares of the company’s stock after buying an additional 1,292 shares during the period. Advisor Group Inc.’s holdings in Penske Automotive Group were worth $410,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Penske Automotive Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 2,783,279 shares of the company’s stock worth $122,214,000 after acquiring an additional 51,334 shares during the last quarter. LSV Asset Management increased its stake in Penske Automotive Group by 4.2% during the second quarter. LSV Asset Management now owns 2,516,387 shares of the company’s stock worth $110,494,000 after acquiring an additional 100,380 shares during the last quarter. Fiduciary Management Inc. WI increased its stake in Penske Automotive Group by 1.0% during the second quarter. Fiduciary Management Inc. WI now owns 1,457,745 shares of the company’s stock worth $64,010,000 after acquiring an additional 15,090 shares during the last quarter. State Street Corp increased its stake in Penske Automotive Group by 1.5% during the second quarter. State Street Corp now owns 621,001 shares of the company’s stock worth $27,266,000 after acquiring an additional 9,240 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Penske Automotive Group by 17.9% during the third quarter. Victory Capital Management Inc. now owns 565,780 shares of the company’s stock worth $26,914,000 after acquiring an additional 85,770 shares during the last quarter. Institutional investors own 41.14% of the company’s stock.

In other news, CFO John D. Jr. Carlson sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $46.20, for a total transaction of $323,400.00. Following the transaction, the chief financial officer now owns 24,844 shares of the company’s stock, valued at $1,147,792.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Shane M. Spradlin sold 3,188 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $47.41, for a total value of $151,143.08. The disclosure for this sale can be found here. Corporate insiders own 40.70% of the company’s stock.

PAG has been the topic of several analyst reports. Gabelli boosted their price objective on Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Berenberg Bank initiated coverage on Penske Automotive Group in a research note on Wednesday, October 4th. They set a “hold” rating and a $52.00 price objective on the stock. ValuEngine cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Finally, KeyCorp reissued a “hold” rating on shares of Penske Automotive Group in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.00.

Penske Automotive Group, Inc. (PAG) traded down $0.29 on Monday, hitting $45.95. The stock had a trading volume of 201,200 shares, compared to its average volume of 467,138. The company has a market capitalization of $3,940.00, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47. Penske Automotive Group, Inc. has a 1 year low of $38.33 and a 1 year high of $56.05. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.23 and a current ratio of 1.04.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, October 25th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Penske Automotive Group had a return on equity of 18.68% and a net margin of 1.75%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. sell-side analysts expect that Penske Automotive Group, Inc. will post 4.3 EPS for the current year.

Penske Automotive Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.33 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.87%. Penske Automotive Group’s dividend payout ratio is currently 30.91%.

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Penske Automotive Group 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.

Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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