Keybank National Association OH Buys New Position in Penske Automotive Group, Inc. $PAG

Keybank National Association OH bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,317 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Penske Automotive Group in the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new stake in Penske Automotive Group in the first quarter valued at $42,000. GAMMA Investing LLC grew its position in Penske Automotive Group by 51.9% in the first quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock valued at $57,000 after acquiring an additional 136 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Penske Automotive Group by 353.0% during the first quarter. Brooklyn Investment Group now owns 453 shares of the company’s stock valued at $65,000 after acquiring an additional 353 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Penske Automotive Group by 18.6% in the 2nd quarter. UMB Bank n.a. now owns 402 shares of the company’s stock valued at $69,000 after purchasing an additional 63 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAG has been the topic of a number of research analyst reports. Citigroup increased their price target on Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Benchmark lifted their price target on Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. decreased their price objective on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st. Finally, Morgan Stanley boosted their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.33.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $154.70 on Friday. Penske Automotive Group, Inc. has a 12 month low of $134.05 and a 12 month high of $189.51. The firm has a market capitalization of $10.19 billion, a P/E ratio of 10.89 and a beta of 0.90. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $172.68 and a two-hundred day simple moving average of $171.11.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the previous year, the business earned $3.39 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, November 14th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s dividend payout ratio (DPR) is currently 38.85%.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,100 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $182.55, for a total value of $200,805.00. Following the sale, the chief financial officer directly owned 18,922 shares of the company’s stock, valued at approximately $3,454,211.10. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lisa Ann Davis sold 1,604 shares of the firm’s stock in a transaction 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 $276,351.46. The trade was a 51.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 51.70% of the stock is owned by company insiders.

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.