Victory Capital Management Inc. Purchases 413,929 Shares of Penske Automotive Group, Inc. (PAG)

Victory Capital Management Inc. raised its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,605,712 shares of the company’s stock after purchasing an additional 413,929 shares during the period. Victory Capital Management Inc. owned 3.07% of Penske Automotive Group worth $123,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC raised its stake in shares of Penske Automotive Group by 20.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,000 shares of the company’s stock valued at $281,000 after acquiring an additional 1,000 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Penske Automotive Group by 39.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,913 shares of the company’s stock valued at $183,000 after acquiring an additional 1,113 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Penske Automotive Group by 4.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,913 shares of the company’s stock valued at $1,542,000 after acquiring an additional 1,453 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Penske Automotive Group by 27.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,516 shares of the company’s stock valued at $352,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Penske Automotive Group by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 436,418 shares of the company’s stock valued at $20,447,000 after acquiring an additional 1,697 shares in the last quarter. 42.40% of the stock is owned by institutional investors.

Shares of NYSE PAG opened at $45.17 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.22 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.49. Penske Automotive Group, Inc. has a 12 month low of $41.74 and a 12 month high of $54.83.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, October 25th. The company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.04. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.86 billion. Penske Automotive Group had a return on equity of 17.76% and a net margin of 3.09%. On average, research analysts forecast that Penske Automotive Group, Inc. will post 5.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be given a $0.37 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, November 8th. Penske Automotive Group’s payout ratio is currently 33.41%.

PAG has been the topic of a number of recent analyst reports. Morgan Stanley raised Penske Automotive Group to a “buy” rating in a research note on Tuesday, July 10th. Guggenheim set a $53.00 price objective on Penske Automotive Group and gave the company a “buy” rating in a research note on Friday, July 13th. SunTrust Banks initiated coverage on Penske Automotive Group in a research note on Friday, August 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Zacks Investment Research downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Finally, ValuEngine downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Penske Automotive Group presently has a consensus rating of “Hold” and an average price target of $57.60.

Penske Automotive Group 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.

See Also: Dividend

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

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