Mutual of America Capital Management LLC Sells 1,000 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Mutual of America Capital Management LLC reduced its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,106 shares of the company’s stock after selling 1,000 shares during the period. Mutual of America Capital Management LLC’s holdings in Penske Automotive Group were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. OFI Invest Asset Management bought a new stake in Penske Automotive Group in the second quarter valued at $1,516,000. Manning & Napier Advisors LLC bought a new stake in shares of Penske Automotive Group in the 2nd quarter worth about $3,742,000. Aristeia Capital L.L.C. bought a new stake in shares of Penske Automotive Group in the 2nd quarter worth about $626,000. Tidal Investments LLC acquired a new stake in shares of Penske Automotive Group during the 1st quarter worth about $954,000. Finally, Millennium Management LLC lifted its holdings in Penske Automotive Group by 9.1% during the 2nd quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock valued at $18,818,000 after purchasing an additional 10,522 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAG has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 10th. Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, Stephens assumed coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target for the company.

Penske Automotive Group Stock Up 3.8 %

Shares of NYSE:PAG opened at $170.38 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $11.38 billion, a P/E ratio of 13.06 and a beta of 1.17. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The company’s 50-day moving average price is $157.35 and its two-hundred day moving average price is $156.60.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. Penske Automotive Group’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.90 earnings per share. As a group, research analysts forecast that Penske Automotive Group, Inc. will post 13.53 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.79%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 36.48%.

Penske Automotive Group Company 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.