Penske Automotive Group, Inc. (PAG) Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co lifted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 14,530.0% during the third quarter, HoldingsChannel reports. The firm owned 7,315 shares of the company’s stock after acquiring an additional 7,265 shares during the period. CENTRAL TRUST Co’s holdings in Penske Automotive Group were worth $347,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its position in shares of Penske Automotive Group by 29.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 19,582 shares of the company’s stock worth $913,000 after purchasing an additional 4,500 shares in the last quarter. LSV Asset Management boosted its position in shares of Penske Automotive Group by 2.2% during the 2nd quarter. LSV Asset Management now owns 2,698,729 shares of the company’s stock worth $126,435,000 after purchasing an additional 59,311 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Penske Automotive Group during the 1st quarter worth about $480,000. S. Muoio & CO. LLC bought a new position in shares of Penske Automotive Group during the 2nd quarter worth about $469,000. Finally, Cooke & Bieler LP boosted its position in shares of Penske Automotive Group by 8.2% during the 2nd quarter. Cooke & Bieler LP now owns 242,579 shares of the company’s stock worth $11,365,000 after purchasing an additional 18,372 shares in the last quarter. 42.51% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on PAG. Guggenheim set a $53.00 price target on shares of Penske Automotive Group and gave the company a “buy” rating in a research report on Friday, July 13th. Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Tuesday, June 19th. Morgan Stanley raised their price target on shares of Penske Automotive Group from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Finally, SunTrust Banks began coverage on shares of Penske Automotive Group in a research report on Friday, August 24th. They issued a “buy” rating and a $60.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Penske Automotive Group has a consensus rating of “Buy” and a consensus price target of $59.50.

Shares of NYSE PAG opened at $45.51 on Monday. Penske Automotive Group, Inc. has a fifty-two week low of $41.74 and a fifty-two week high of $54.83. The stock has a market capitalization of $4.02 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.30 and a beta of 1.46. The company has a current ratio of 1.01, a quick ratio of 0.22 and a debt-to-equity ratio of 0.82.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, July 26th. The company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.14. Penske Automotive Group had a net margin of 2.95% and a return on equity of 17.68%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter last year, the firm earned $1.27 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 5.37 earnings per share for the current year.

Penske Automotive Group Company Profile

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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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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