TrueMark Investments LLC Takes $639,000 Position in Penske Automotive Group, Inc. $PAG

TrueMark Investments LLC acquired a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,035 shares of the company’s stock, valued at approximately $639,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAG. Goldman Sachs Group Inc. increased its position in Penske Automotive Group by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after purchasing an additional 84,045 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Penske Automotive Group by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock valued at $9,918,000 after purchasing an additional 3,100 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Penske Automotive Group during the first quarter worth $42,000. Legal & General Group Plc increased its position in shares of Penske Automotive Group by 2.1% during the second quarter. Legal & General Group Plc now owns 36,571 shares of the company’s stock worth $6,283,000 after buying an additional 742 shares during the period. Finally, Franklin Resources Inc. raised its stake in Penske Automotive Group by 13.4% during the second quarter. Franklin Resources Inc. now owns 8,611 shares of the company’s stock worth $1,479,000 after buying an additional 1,018 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $148.08 on Tuesday. The firm has a market capitalization of $9.74 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.56 and a beta of 0.90. The firm’s 50-day moving average price is $157.77 and its 200-day moving average price is $162.93. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. Penske Automotive Group, Inc. has a 1-year low of $134.05 and a 1-year high of $189.51.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.62 billion. During the same quarter in the prior year, the business earned $3.54 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were issued a dividend of $1.40 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio is presently 41.48%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PAG. Barclays boosted their target price on shares of Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Bank of America began coverage on Penske Automotive Group in a research note on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Finally, Weiss Ratings cut Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.71.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.