Penske Automotive Group, Inc. $PAG Stock Holdings Lessened by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 49.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 78,666 shares of the company’s stock after selling 76,361 shares during the quarter. Squarepoint Ops LLC’s holdings in Penske Automotive Group were worth $14,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after purchasing an additional 84,045 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Penske Automotive Group by 4.7% during 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 worth $9,918,000 after buying an additional 3,100 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Penske Automotive Group in the first quarter worth $42,000. EverSource Wealth Advisors LLC lifted its stake in Penske Automotive Group by 506.9% in the second quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after buying an additional 735 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Penske Automotive Group by 47.0% during the second quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after acquiring an additional 994 shares during the period. Institutional investors own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group set a $190.00 price target on shares of Penske Automotive Group in a research report on Friday, July 10th. Citigroup lowered shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and raised their price target for the company from $199.00 to $210.00 in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price target on Penske Automotive Group from $170.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Stephens increased their price objective on Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Finally, Barclays increased their price objective on Penske Automotive Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.50.

Penske Automotive Group Stock Up 0.6%

Penske Automotive Group stock opened at $218.18 on Thursday. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 16.07 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $210.43 and its two-hundred day moving average price is $179.43. Penske Automotive Group, Inc. has a 52 week low of $140.12 and a 52 week high of $227.00.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.42 by $0.20. The company had revenue of $8.51 billion during the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.78 EPS. On average, analysts expect that Penske Automotive Group, Inc. will post 13.66 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of $1.44 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date was Friday, August 14th. This represents a $5.76 annualized dividend and a dividend yield of 2.6%. Penske Automotive Group’s payout ratio is 42.42%.

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.