Penske Automotive Group, Inc. $PAG Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 15.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,600 shares of the company’s stock after purchasing an additional 3,397 shares during the quarter. Sei Investments Co.’s holdings in Penske Automotive Group were worth $3,830,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Jefferies Financial Group Inc. acquired a new stake in Penske Automotive Group in the fourth quarter worth about $3,679,000. Independent Solutions Wealth Management LLC acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at about $2,649,000. Norges Bank acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at about $32,137,000. First Trust Advisors LP increased its holdings in shares of Penske Automotive Group by 24.7% during the first quarter. First Trust Advisors LP now owns 81,838 shares of the company’s stock valued at $12,236,000 after acquiring an additional 16,201 shares in the last quarter. Finally, Diamant Asset Management Inc. raised its position in shares of Penske Automotive Group by 14,852.0% in the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after purchasing an additional 878,496 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insiders Place Their Bets

In other Penske Automotive Group news, Director Greg C. Smith sold 1,488 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michelle Hulgrave sold 1,500 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the sale, the chief financial officer directly owned 17,596 shares in the company, valued at $3,022,992.80. This represents a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 52.90% of the stock is owned by corporate insiders.

Penske Automotive Group Trading Up 0.3%

Penske Automotive Group stock opened at $216.31 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. Penske Automotive Group, Inc. has a 52 week low of $140.12 and a 52 week high of $227.00. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The stock has a 50-day moving average price of $190.65 and a 200 day moving average price of $170.39.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company had revenue of $8.51 billion for the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter in the prior year, the company earned $3.78 EPS. Penske Automotive Group’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.48 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $1.44 dividend. The ex-dividend date is Friday, August 14th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.7%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 42.42%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAG. Stephens lifted their target price on shares of Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Penske Automotive Group from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group set a $190.00 price target on shares of Penske Automotive Group in a report on Friday, July 10th. Barclays lifted their price objective on shares of Penske Automotive Group from $190.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Bank of America boosted their price objective on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.88.

About Penske Automotive Group

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.