Inspire Investing LLC Makes New Investment in Penske Automotive Group, Inc. $PAG

Inspire Investing LLC purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG) during the 3rd quarter, Holdings Channel reports. The fund purchased 5,969 shares of the company’s stock, valued at approximately $1,038,000.

A number of other hedge funds have also modified their holdings of PAG. Public Employees Retirement System of Ohio lifted its stake in Penske Automotive Group by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,740 shares of the company’s stock valued at $986,000 after buying an additional 60 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Penske Automotive Group by 18.6% in the second quarter. UMB Bank n.a. now owns 402 shares of the company’s stock worth $69,000 after acquiring an additional 63 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Penske Automotive Group by 2.9% in the first quarter. Voya Investment Management LLC now owns 2,306 shares of the company’s stock valued at $332,000 after acquiring an additional 65 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of 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 acquiring an additional 65 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Penske Automotive Group by 2.9% during the first quarter. EP Wealth Advisors LLC now owns 2,478 shares of the company’s stock valued at $357,000 after acquiring an additional 70 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michelle Hulgrave sold 2,100 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the completion of the sale, the chief financial officer owned 16,822 shares in the company, valued at approximately $2,694,379.74. The trade was a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $165.56 on Friday. The company has a market cap of $10.90 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.35 and a beta of 0.92. The firm’s 50 day moving average is $162.90 and its two-hundred day moving average is $171.63. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week high of $189.51. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, October 29th. The company reported $3.23 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the previous year, the company earned $3.39 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th were paid a $1.38 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $5.52 annualized dividend and a dividend yield of 3.3%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s dividend payout ratio is presently 38.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. Citigroup boosted their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Bank of America began coverage on shares of Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.43.

Penske Automotive Group 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.