California Public Employees Retirement System increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 4.2% in the first quarter, HoldingsChannel reports. The firm owned 100,947 shares of the company’s stock after purchasing an additional 4,035 shares during the quarter. California Public Employees Retirement System’s holdings in Penske Automotive Group were worth $4,475,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of PAG. Aperio Group LLC grew its stake in Penske Automotive Group by 22.8% in the fourth quarter. Aperio Group LLC now owns 8,543 shares of the company’s stock worth $409,000 after purchasing an additional 1,586 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Penske Automotive Group in the fourth quarter worth about $638,000. Swiss National Bank grew its stake in Penske Automotive Group by 2.8% in the fourth quarter. Swiss National Bank now owns 65,900 shares of the company’s stock worth $3,153,000 after purchasing an additional 1,800 shares in the last quarter. First Trust Advisors LP grew its stake in Penske Automotive Group by 12.8% in the fourth quarter. First Trust Advisors LP now owns 173,240 shares of the company’s stock worth $8,290,000 after purchasing an additional 19,633 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Penske Automotive Group by 88.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,090 shares of the company’s stock worth $1,392,000 after purchasing an additional 13,640 shares in the last quarter. Institutional investors and hedge funds own 42.22% of the company’s stock.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Tuesday, June 19th. Guggenheim assumed coverage on Penske Automotive Group in a research note on Monday, April 16th. They issued a “buy” rating and a $50.00 price target for the company. ValuEngine downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Morgan Stanley lifted their price target on Penske Automotive Group from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.50.
Shares of NYSE PAG opened at $47.63 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.23 and a debt-to-equity ratio of 0.86. Penske Automotive Group, Inc. has a 52-week low of $38.33 and a 52-week high of $54.83. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.30 and a beta of 1.50.
Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.12. Penske Automotive Group had a net margin of 2.90% and a return on equity of 17.56%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company posted $0.97 earnings per share. Penske Automotive Group’s revenue was up 13.1% on a year-over-year basis. analysts anticipate that Penske Automotive Group, Inc. will post 5.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Monday, May 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 2.94%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.34. Penske Automotive Group’s dividend payout ratio (DPR) is currently 32.48%.
In other news, Director Kimberly J. Mcwaters sold 5,000 shares of Penske Automotive Group stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $48.58, for a total transaction of $242,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Shane M. Spradlin sold 2,150 shares of Penske Automotive Group stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $48.35, for a total value of $103,952.50. The disclosure for this sale can be found here. Company insiders own 41.60% of the company’s stock.
About Penske Automotive Group
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.
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