Penske Automotive Group, Inc. $PAG Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 11.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,084 shares of the company’s stock after purchasing an additional 921 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Penske Automotive Group were worth $1,574,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Penske Automotive Group by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,740 shares of the company’s stock worth $986,000 after purchasing an additional 60 shares during the last quarter. Martingale Asset Management L P boosted its holdings in Penske Automotive Group by 3.7% in the first quarter. Martingale Asset Management L P now owns 1,750 shares of the company’s stock valued at $252,000 after acquiring an additional 63 shares during the last quarter. UMB Bank n.a. boosted its holdings in Penske Automotive Group by 18.6% in the second quarter. UMB Bank n.a. now owns 402 shares of the company’s stock valued at $69,000 after acquiring an additional 63 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Penske Automotive Group by 2.9% in the first quarter. Voya Investment Management LLC now owns 2,306 shares of the company’s stock valued at $332,000 after acquiring an additional 65 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Penske Automotive Group by 2.9% in the first quarter. EP Wealth Advisors LLC now owns 2,478 shares of the company’s stock valued at $357,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $169.74 on Tuesday. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $178.36 and a two-hundred day moving average of $170.00. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $189.51. The company has a market cap of $11.21 billion, a P/E ratio of 11.81 and a beta of 0.88.

Penske Automotive Group (NYSE:PAGGet Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.22. Penske Automotive Group had a return on equity of 17.43% and a net margin of 3.13%.The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.98 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. Penske Automotive Group’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be paid a $1.38 dividend. The ex-dividend date is Friday, November 14th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a yield of 3.3%. Penske Automotive Group’s payout ratio is presently 36.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PAG shares. Benchmark boosted their price objective on Penske Automotive Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Citigroup lifted their target price on Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “buy (b+)” rating on shares of Penske Automotive Group in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.17.

Check Out Our Latest Research Report on Penske Automotive Group

Insider Buying and Selling

In other news, Director Lisa Ann Davis sold 1,604 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the completion of the transaction, the director directly owned 1,529 shares in the company, valued at approximately $276,351.46. The trade was a 51.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michelle Hulgrave sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.55, for a total value of $200,805.00. Following the transaction, the chief financial officer owned 18,922 shares of the company’s stock, valued at approximately $3,454,211.10. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 52.40% of the company’s stock.

Penske Automotive Group Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penske Automotive Group, Inc. (NYSE:PAGFree Report).

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

Receive News & Ratings for Penske Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penske Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.