Inceptionr LLC Makes New Investment in Penske Automotive Group, Inc. $PAG

Inceptionr LLC bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 7,992 shares of the company’s stock, valued at approximately $1,390,000.

A number of other large investors also recently made changes to their positions in PAG. Aptus Capital Advisors LLC grew its stake in shares of Penske Automotive Group by 5.4% during the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after purchasing an additional 65 shares during the period. Barclays PLC lifted its stake in Penske Automotive Group by 39.1% in the third quarter. Barclays PLC now owns 45,015 shares of the company’s stock valued at $7,829,000 after buying an additional 12,645 shares during the period. Cresset Asset Management LLC acquired a new position in Penske Automotive Group in the third quarter valued at about $218,000. Victory Capital Management Inc. boosted its holdings in Penske Automotive Group by 48.9% during the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock worth $241,958,000 after buying an additional 456,611 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in Penske Automotive Group by 4.3% during the third quarter. Focus Partners Advisor Solutions LLC now owns 2,560 shares of the company’s stock worth $423,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 0.6%

Shares of Penske Automotive Group stock opened at $156.77 on Monday. The company has a market capitalization of $10.31 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22. The business has a 50-day moving average of $162.71 and a two-hundred day moving average of $167.27. 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 released its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 earnings per share 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 business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.62 billion. During the same quarter last year, the firm earned $3.54 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 dividend on an annualized basis and a yield of 3.6%. Penske Automotive Group’s payout ratio is presently 41.48%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Bank of America assumed coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price objective for the company. Finally, Barclays increased their target price on shares of Penske Automotive Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Seven research 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, Penske Automotive Group currently has an average rating of “Moderate Buy” and a consensus price target of $184.43.

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.