Gamco Investors INC. ET AL Has $69.99 Million Stake in Penske Automotive Group, Inc. $PAG

Gamco Investors INC. ET AL reduced its position in Penske Automotive Group, Inc. (NYSE:PAG) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 402,418 shares of the company’s stock after selling 8,922 shares during the quarter. Penske Automotive Group makes up 0.7% of Gamco Investors INC. ET AL’s portfolio, making the stock its 25th largest holding. Gamco Investors INC. ET AL’s holdings in Penske Automotive Group were worth $69,985,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PAG. California State Teachers Retirement System grew its stake in Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after purchasing an additional 65 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Penske Automotive Group by 2.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after purchasing an additional 65 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Penske Automotive Group by 5.4% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock valued at $219,000 after buying an additional 65 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Penske Automotive Group by 11.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock valued at $116,000 after buying an additional 67 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Penske Automotive Group by 2.8% in the third quarter. Truist Financial Corp now owns 2,576 shares of the company’s stock valued at $448,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $156.77 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $10.31 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 0.90. Penske Automotive Group, Inc. has a 12 month low of $134.05 and a 12 month high of $189.51. The stock has a 50 day moving average of $162.71 and a 200-day moving average of $167.49.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.28). Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. During the same quarter last year, the company posted $3.54 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were issued a $1.40 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio is presently 41.48%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PAG shares. Barclays boosted their target price on shares of Penske Automotive Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Bank of America initiated coverage on shares of Penske Automotive Group in a research note on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $184.43.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.