Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its position in Penske Automotive Group, Inc. (NYSE:PAG) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 59,140 shares of the company’s stock after purchasing an additional 1,154 shares during the period. Rhumbline Advisers owned about 0.07% of Penske Automotive Group worth $2,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PAG. BlackRock Inc. boosted its stake in shares of Penske Automotive Group by 5.7% during the second quarter. BlackRock Inc. now owns 2,097,166 shares of the company’s stock valued at $99,196,000 after acquiring an additional 113,086 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Penske Automotive Group by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 533,537 shares of the company’s stock valued at $25,236,000 after buying an additional 22,129 shares during the period. Fenimore Asset Management Inc. raised its holdings in shares of Penske Automotive Group by 3.3% during the 3rd quarter. Fenimore Asset Management Inc. now owns 411,430 shares of the company’s stock valued at $19,452,000 after buying an additional 12,985 shares during the period. Foresters Investment Management Company Inc. raised its holdings in shares of Penske Automotive Group by 15.5% during the 2nd quarter. Foresters Investment Management Company Inc. now owns 397,100 shares of the company’s stock valued at $18,783,000 after buying an additional 53,200 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Penske Automotive Group by 2.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 268,154 shares of the company’s stock valued at $12,684,000 after buying an additional 5,190 shares during the period. 42.46% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Penske Automotive Group from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Northcoast Research restated a “buy” rating on shares of Penske Automotive Group in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Penske Automotive Group from a “sell” rating to a “hold” rating and set a $49.00 price objective on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $55.00.

PAG stock traded up $0.51 during midday trading on Tuesday, hitting $51.75. 23,071 shares of the company’s stock were exchanged, compared to its average volume of 345,967. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.86. Penske Automotive Group, Inc. has a 12-month low of $38.49 and a 12-month high of $53.13. The firm has a 50 day moving average price of $47.23 and a 200-day moving average price of $45.71. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.01. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.89 billion. Penske Automotive Group had a return on equity of 16.40% and a net margin of 1.91%. Penske Automotive Group’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. On average, sell-side analysts forecast that Penske Automotive Group, Inc. will post 5.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 8th will be given a $0.41 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, November 7th. This represents a $1.64 annualized dividend and a dividend yield of 3.17%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 30.71%.

In other news, EVP Shane M. Spradlin sold 2,500 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $48.55, for a total value of $121,375.00. Following the completion of the transaction, the executive vice president now owns 41,982 shares in the company, valued at approximately $2,038,226.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimberly J. Mcwaters sold 5,000 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $49.25, for a total value of $246,250.00. Following the completion of the transaction, the director now owns 8,924 shares of the company’s stock, valued at approximately $439,507. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.

About Penske Automotive Group

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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