Phocas Financial Corp. acquired a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 115,931 shares of the company’s stock, valued at approximately $5,091,000. Phocas Financial Corp. owned approximately 0.13% of Penske Automotive Group at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PAG. Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Penske Automotive Group during the 2nd quarter worth approximately $14,689,000. Koch Industries Inc. purchased a new stake in shares of Penske Automotive Group during the 2nd quarter worth approximately $315,000. Renaissance Technologies LLC raised its holdings in shares of Penske Automotive Group by 99.9% during the 2nd quarter. Renaissance Technologies LLC now owns 371,700 shares of the company’s stock worth $16,321,000 after acquiring an additional 185,800 shares in the last quarter. Cambiar Investors LLC purchased a new stake in shares of Penske Automotive Group during the 2nd quarter worth approximately $8,031,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Penske Automotive Group by 54.6% during the 2nd quarter. Victory Capital Management Inc. now owns 480,010 shares of the company’s stock worth $21,077,000 after acquiring an additional 169,550 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of Penske Automotive Group in a report on Wednesday, October 4th. Berenberg Bank assumed coverage on Penske Automotive Group in a report on Wednesday, October 4th. They set a “hold” rating and a $52.00 price objective on the stock. ValuEngine raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northcoast Research assumed coverage on Penske Automotive Group in a report on Thursday, September 28th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, BidaskClub cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $55.83.
In related news, EVP Claude H. Denker III sold 5,000 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $41.27, for a total transaction of $206,350.00. Following the transaction, the executive vice president now owns 22,243 shares in the company, valued at $917,968.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 40.70% of the company’s stock.
Penske Automotive Group, Inc. (PAG) traded up 0.342% during trading on Tuesday, hitting $45.525. The stock had a trading volume of 44,176 shares. The company has a market cap of $3.92 billion, a PE ratio of 10.852 and a beta of 1.44. The company’s 50 day moving average is $44.79 and its 200-day moving average is $43.89. Penske Automotive Group, Inc. has a 12 month low of $38.33 and a 12 month high of $56.05.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.07. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Penske Automotive Group, Inc. will post $4.30 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.33 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.91%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 30.55%.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.
Want to see what other hedge funds are holding PAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penske Automotive Group, Inc. (NYSE:PAG).
Receive News & Ratings for Penske Automotive Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penske Automotive Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.