Penske Automotive Group, Inc. $PAG Stake Reduced by Quantinno Capital Management LP

Quantinno Capital Management LP trimmed its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 45.7% in the first quarter, Holdings Channel.com reports. The fund owned 47,763 shares of the company’s stock after selling 40,215 shares during the period. Quantinno Capital Management LP’s holdings in Penske Automotive Group were worth $7,142,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Navalign LLC acquired a new position in shares of Penske Automotive Group in the 4th quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of Penske Automotive Group in the 4th quarter worth approximately $30,000. Rothschild Investment LLC lifted its stake in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after purchasing an additional 66 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Penske Automotive Group during the first quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC boosted its holdings in Penske Automotive Group by 186.6% during the fourth quarter. Global Retirement Partners LLC now owns 321 shares of the company’s stock worth $51,000 after buying an additional 209 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays lifted their price target on shares of Penske Automotive Group from $190.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Bank of America increased their price objective on Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Citigroup lowered Penske Automotive Group from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $199.00 to $210.00 in a research note on Thursday, July 23rd. Benchmark lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Stephens boosted their target price on Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Moderate Buy” and an average price target of $207.88.

Insider Buying and Selling at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the transaction, the chief financial officer directly owned 17,596 shares of the company’s stock, valued at approximately $3,022,992.80. The trade was a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Smith sold 1,488 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 52.90% of the company’s stock.

Penske Automotive Group Stock Performance

Penske Automotive Group stock opened at $215.84 on Thursday. The firm’s 50 day simple moving average is $189.69 and its 200-day simple moving average is $170.02. The company has a market cap of $14.17 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 2.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. Penske Automotive Group, Inc. has a fifty-two week low of $140.12 and a fifty-two week high of $227.00.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.20. The business had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.78 earnings per share. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 13.48 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued 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 is currently 41.83%.

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.