Callan Family Office LLC Grows Position in Penske Automotive Group, Inc. $PAG

Callan Family Office LLC raised its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 32.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,003 shares of the company’s stock after acquiring an additional 493 shares during the period. Callan Family Office LLC’s holdings in Penske Automotive Group were worth $344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of Penske Automotive Group in the 2nd quarter valued at about $34,000. Acadian Asset Management LLC purchased a new stake in shares of Penske Automotive Group in the 1st quarter valued at about $42,000. GAMMA Investing LLC raised its holdings in shares of Penske Automotive Group by 51.9% in the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock valued at $57,000 after acquiring an additional 136 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Penske Automotive Group by 353.0% during the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company’s stock valued at $65,000 after buying an additional 353 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Penske Automotive Group by 18.6% during the 2nd quarter. UMB Bank n.a. now owns 402 shares of the company’s stock valued at $69,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock opened at $171.09 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.90 and a quick ratio of 0.21. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $189.51. The stock has a market capitalization of $11.30 billion, a P/E ratio of 11.91 and a beta of 0.88. The business’s 50 day simple moving average is $178.70 and its two-hundred day simple moving average is $169.13.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, July 30th. The company reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.22. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.98 billion. Penske Automotive Group had a return on equity of 17.43% and a net margin of 3.13%.The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. Analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a dividend of $1.32 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 15th. Penske Automotive Group’s dividend payout ratio is currently 36.74%.

Insider Buying and Selling

In related news, CFO Michelle Hulgrave sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.55, for a total transaction of $200,805.00. Following the completion of the transaction, the chief financial officer owned 18,922 shares in the company, valued at $3,454,211.10. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lisa Ann Davis sold 1,604 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $180.74, for a total value of $289,906.96. Following the transaction, the director owned 1,529 shares of the company’s stock, valued at approximately $276,351.46. This represents a 51.20% decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Benchmark raised their price objective on Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b+)” rating on shares of Penske Automotive Group in a report on Wednesday, October 8th. Citigroup raised their price objective on Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, September 25th. JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Morgan Stanley raised their price objective on Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Penske Automotive Group has a consensus rating of “Moderate Buy” and a consensus target price of $185.17.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.