XTX Topco Ltd Decreases Stake in Penske Automotive Group, Inc. $PAG

XTX Topco Ltd trimmed its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 23.6% during the second quarter, HoldingsChannel reports. The firm owned 5,845 shares of the company’s stock after selling 1,807 shares during the period. XTX Topco Ltd’s holdings in Penske Automotive Group were worth $1,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PAG. Public Employees Retirement System of Ohio raised its stake in 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 period. Martingale Asset Management L P increased its holdings in shares of Penske Automotive Group by 3.7% during the 1st quarter. Martingale Asset Management L P now owns 1,750 shares of the company’s stock worth $252,000 after buying an additional 63 shares during the last quarter. UMB Bank n.a. raised its position in shares of Penske Automotive Group by 18.6% during the 2nd quarter. UMB Bank n.a. now owns 402 shares of the company’s stock valued at $69,000 after buying an additional 63 shares during the period. Voya Investment Management LLC lifted 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 lifted 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. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Benchmark upped their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. reduced their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, Citigroup upped their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.86.

Penske Automotive Group Stock Down 0.2%

Shares of NYSE PAG opened at $161.72 on Monday. The stock has a market cap of $10.65 billion, a PE ratio of 11.38 and a beta of 0.90. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $189.51. The business has a 50-day moving average price of $165.22 and a 200 day moving average price of $171.46. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $3.23 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.25). The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. Penske Automotive Group’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.39 earnings per share. Equities research analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be issued a $1.38 dividend. The ex-dividend date is Friday, November 14th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s payout ratio is 38.85%.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer directly owned 16,822 shares in the company, valued at approximately $2,694,379.74. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 51.70% of the company’s stock.

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.