Fmr LLC Sells 4,746 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Fmr LLC decreased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,451 shares of the company’s stock after selling 4,746 shares during the quarter. Fmr LLC’s holdings in Penske Automotive Group were worth $24,599,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PAG. Cetera Advisors LLC purchased a new stake in shares of Penske Automotive Group in the first quarter worth $230,000. CWM LLC grew its stake in shares of Penske Automotive Group by 94.5% in the second quarter. CWM LLC now owns 4,505 shares of the company’s stock worth $671,000 after acquiring an additional 2,189 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Penske Automotive Group in the second quarter worth $328,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Penske Automotive Group by 51.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,422 shares of the company’s stock worth $361,000 after acquiring an additional 827 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PAG. Stephens began coverage on Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 10th. Finally, Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th.

Penske Automotive Group Trading Up 0.1 %

Shares of NYSE:PAG opened at $164.07 on Tuesday. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 12.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The stock’s 50-day simple moving average is $158.72 and its two-hundred day simple moving average is $157.34. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72.

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 the consensus estimate of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.90 earnings per share. Analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.90%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s dividend payout ratio (DPR) is 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.