Pacer Advisors Inc. Purchases New Shares in Penske Automotive Group, Inc. $PAG

Pacer Advisors Inc. acquired a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,573 shares of the company’s stock, valued at approximately $621,000.

A number of other large investors have also recently made changes to their positions in the business. Inspire Investing LLC purchased a new stake in shares of Penske Automotive Group during the 3rd quarter valued at about $1,038,000. Farther Finance Advisors LLC increased its stake in Penske Automotive Group by 37.1% during the third quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $252,000 after acquiring an additional 393 shares during the last quarter. Brighton Jones LLC increased its stake in Penske Automotive Group by 17.1% during the third quarter. Brighton Jones LLC now owns 3,437 shares of the company’s stock worth $598,000 after acquiring an additional 501 shares during the last quarter. Corient Private Wealth LLC raised its position in Penske Automotive Group by 6.1% during the second quarter. Corient Private Wealth LLC now owns 10,946 shares of the company’s stock valued at $1,881,000 after purchasing an additional 625 shares during the period. Finally, Public Sector Pension Investment Board purchased a new stake in Penske Automotive Group during the second quarter valued at approximately $6,500,000. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Down 0.2%

NYSE:PAG opened at $157.95 on Friday. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 2.17 and a beta of 0.92. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $162.12 and a 200-day simple moving average of $171.37.

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

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Friday, November 14th. Penske Automotive Group’s dividend payout ratio is 38.85%.

Analyst Upgrades and Downgrades

PAG has been the topic of several analyst reports. Bank of America initiated coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 target price on the stock. Benchmark lifted their price objective on shares of Penske Automotive Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Barclays started coverage on shares of Penske Automotive Group in a research report on Tuesday, November 11th. They set an “overweight” rating and a $195.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Finally, Citigroup lifted their price target on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. 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 MarketBeat.com, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.43.

Insider Activity at Penske Automotive Group

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

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.