Penske Automotive Group, Inc. $PAG Stock Holdings Boosted by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 590.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,383 shares of the company’s stock after acquiring an additional 9,734 shares during the quarter. GSA Capital Partners LLP’s holdings in Penske Automotive Group were worth $1,802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meixler Investment Management Ltd. bought a new position in Penske Automotive Group in the 3rd quarter valued at about $1,154,000. Convergence Investment Partners LLC acquired a new position in shares of Penske Automotive Group in the 3rd quarter worth approximately $1,157,000. Alps Advisors Inc. acquired a new position in shares of Penske Automotive Group in the 3rd quarter worth approximately $5,585,000. JPMorgan Chase & Co. raised its holdings in shares of Penske Automotive Group by 21.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,775 shares of the company’s stock worth $19,439,000 after purchasing an additional 19,561 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Penske Automotive Group by 394.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,593 shares of the company’s stock worth $7,726,000 after purchasing an additional 37,967 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

NYSE PAG opened at $156.51 on Wednesday. The company has a 50 day simple moving average of $156.22 and a 200-day simple moving average of $160.29. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. Penske Automotive Group, Inc. has a 52-week low of $140.12 and a 52-week high of $189.51.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.14. The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.66 earnings per share. Equities research analysts predict that Penske Automotive Group, Inc. will post 13.44 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 annualized dividend and a yield of 3.6%. Penske Automotive Group’s payout ratio is 41.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PAG shares. Citigroup increased their price objective on Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays reduced their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Stephens upped their price objective on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.86.

About Penske Automotive Group

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.