Barclays PLC Decreases Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Barclays PLC trimmed its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,734 shares of the company’s stock after selling 10,764 shares during the quarter. Barclays PLC owned 0.12% of Penske Automotive Group worth $13,111,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in shares of Penske Automotive Group by 31.1% during the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock worth $62,280,000 after buying an additional 99,164 shares during the period. International Assets Investment Management LLC grew its holdings in Penske Automotive Group by 12,674.5% during the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock worth $9,606,000 after acquiring an additional 58,683 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of Penske Automotive Group by 720.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company’s stock valued at $3,546,000 after purchasing an additional 20,896 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Penske Automotive Group by 88.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company’s stock valued at $4,800,000 after purchasing an additional 15,151 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its position in shares of Penske Automotive Group by 1.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company’s stock worth $115,874,000 after purchasing an additional 13,968 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAG. Stephens started coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their price target for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $170.25.

Penske Automotive Group Price Performance

Shares of PAG opened at $163.26 on Monday. The firm has a fifty day moving average price of $159.17 and a 200 day moving average price of $157.71. The stock has a market cap of $10.90 billion, a PE ratio of 12.51 and a beta of 1.18. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.90 earnings per share. As a group, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a $1.19 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

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.