Applied Capital LLC FL Has $3.44 Million Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Applied Capital LLC FL raised its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,176 shares of the company’s stock after purchasing an additional 77 shares during the period. Penske Automotive Group accounts for 2.7% of Applied Capital LLC FL’s portfolio, making the stock its 7th largest holding. Applied Capital LLC FL’s holdings in Penske Automotive Group were worth $3,439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PAG. Fifth Third Bancorp lifted its position in shares of Penske Automotive Group by 32.2% during the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after purchasing an additional 91 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Penske Automotive Group during the second quarter worth approximately $69,000. WFA Asset Management Corp acquired a new position in shares of Penske Automotive Group during the first quarter worth approximately $84,000. Blue Trust Inc. boosted its position in shares of Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after acquiring an additional 113 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in shares of Penske Automotive Group in the first quarter worth $230,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

NYSE:PAG opened at $154.80 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98. The company has a 50-day moving average of $160.50 and a 200-day moving average of $155.74. Penske Automotive Group, Inc. has a 52 week low of $137.95 and a 52 week high of $179.72. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 11.40 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same quarter last year, the company earned $4.41 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.82 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.76%. Penske Automotive Group’s payout ratio is currently 31.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. Stephens began coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective for the company. Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $175.40.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 716 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 51.70% of the stock is owned by company insiders.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.