Louisiana State Employees Retirement System Invests $792,000 in Penske Automotive Group, Inc. $PAG

Louisiana State Employees Retirement System purchased a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,300 shares of the company’s stock, valued at approximately $792,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAG. Aptus Capital Advisors LLC increased its position in shares of Penske Automotive Group by 5.4% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock valued at $219,000 after purchasing an additional 65 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after buying an additional 65 shares during the period. Rothschild Investment LLC boosted its stake in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after buying an additional 66 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its holdings in Penske Automotive Group by 2.7% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,630 shares of the company’s stock worth $416,000 after acquiring an additional 70 shares during the period. Finally, Kendall Capital Management lifted its holdings in Penske Automotive Group by 1.0% in the 4th quarter. Kendall Capital Management now owns 7,390 shares of the company’s stock valued at $1,170,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group started coverage on shares of Penske Automotive Group in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $167.00 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Penske Automotive Group in a report on Thursday, June 11th. Citigroup increased their price target on Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays dropped their price target on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Insider Activity

In other news, CFO Michelle Hulgrave sold 1,500 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the transaction, the chief financial officer owned 17,596 shares of the company’s stock, valued at approximately $3,022,992.80. This represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greg C. Smith sold 1,488 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The SEC filing for this sale provides additional information. Corporate insiders own 52.90% of the company’s stock.

Penske Automotive Group Stock Up 3.0%

PAG stock traded up $5.37 during midday trading on Tuesday, reaching $184.79. The company had a trading volume of 2,475 shares, compared to its average volume of 294,091. The company has a market capitalization of $12.15 billion, a P/E ratio of 13.76, a PEG ratio of 2.32 and a beta of 0.87. Penske Automotive Group, Inc. has a 1 year low of $140.12 and a 1 year high of $189.51. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $172.04 and a two-hundred day moving average of $163.46.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.91 by $0.14. The company had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. Penske Automotive Group’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.66 EPS. On average, equities research analysts expect that Penske Automotive Group, Inc. will post 13.46 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 26th were given a $1.42 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Penske Automotive Group’s payout ratio is presently 42.39%.

About Penske Automotive Group

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.