Virtu Financial LLC Makes New Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Virtu Financial LLC bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,750 shares of the company’s stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in Penske Automotive Group by 31.1% in the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock valued at $62,280,000 after acquiring an additional 99,164 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Penske Automotive Group by 12,674.5% in the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock worth $9,606,000 after purchasing an additional 58,683 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake 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 in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Penske Automotive Group by 88.8% during the second quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company’s stock worth $4,800,000 after purchasing an additional 15,151 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in Penske Automotive Group by 1.8% in the second 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 in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Price Performance

Shares of PAG opened at $161.76 on Wednesday. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month 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. The stock has a fifty day moving average price of $159.34 and a 200 day moving average price of $157.80. The company has a market cap of $10.80 billion, a P/E ratio of 12.46 and a beta of 1.18.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.02). The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.90 EPS. On average, research analysts forecast that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.94%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s dividend payout ratio (DPR) is presently 36.48%.

Analysts Set New Price Targets

PAG has been the topic of several research reports. Stephens started coverage on Penske Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 10th. Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating for the company. Finally, Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th. One investment 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. According to data from MarketBeat, Penske Automotive Group presently has an average rating of “Hold” and an average target price of $170.25.

Penske Automotive Group Company 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.