Virtu Financial LLC Acquires New Holdings in Penske Automotive Group, Inc. $PAG

Virtu Financial LLC bought a new position in Penske Automotive Group, Inc. (NYSE:PAG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,225 shares of the company’s stock, valued at approximately $669,000.

A number of other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Penske Automotive Group by 2.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock valued at $561,000 after buying an additional 65 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Penske Automotive Group by 5.4% in the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after acquiring an additional 65 shares during the period. California State Teachers Retirement System increased its position in Penske Automotive Group by 0.4% during the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after acquiring an additional 65 shares during the last quarter. Rothschild Investment LLC increased its position 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 acquiring an additional 66 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in Penske Automotive Group by 2.7% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,630 shares of the company’s stock valued at $416,000 after acquiring an additional 70 shares during the period. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Down 0.1%

Shares of Penske Automotive Group stock opened at $175.02 on Tuesday. The company has a market capitalization of $11.51 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. The company has a fifty day moving average of $167.67 and a 200 day moving average of $162.47. Penske Automotive Group, Inc. has a fifty-two week low of $140.12 and a fifty-two week high of $189.51.

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

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were given a dividend of $1.42 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, May 26th. Penske Automotive Group’s dividend payout ratio (DPR) is 42.39%.

Insider Activity at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 1,500 shares of Penske Automotive Group stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the sale, the chief financial officer owned 17,596 shares of the company’s stock, valued at approximately $3,022,992.80. This trade represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg C. Smith sold 1,488 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was 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. 52.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PAG. UBS Group initiated coverage on Penske Automotive Group in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $167.00 target price on the stock. Barclays lowered their price objective on shares of 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. Morgan Stanley reissued an “overweight” rating and issued a $190.00 price objective on shares of Penske Automotive Group in a report on Thursday, May 7th. Stephens boosted their target price on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Penske Automotive Group in a report on Thursday, June 11th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

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.