Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp boosted its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 39.1% in the 3rd quarter, Holdings Channel reports. The firm owned 2,986 shares of the company’s stock after purchasing an additional 839 shares during the period. Stifel Financial Corp’s holdings in Penske Automotive Group were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of PAG. Quantinno Capital Management LP raised its holdings in shares of Penske Automotive Group by 0.5% in the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock valued at $2,704,000 after buying an additional 82 shares during the last quarter. Readystate Asset Management LP acquired a new position in Penske Automotive Group in the 3rd quarter valued at about $722,000. Point72 DIFC Ltd purchased a new stake in Penske Automotive Group during the 3rd quarter valued at approximately $727,000. Point72 Asset Management L.P. acquired a new stake in Penske Automotive Group during the 3rd quarter worth approximately $747,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Penske Automotive Group in the 3rd quarter valued at approximately $1,805,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PAG shares. Benchmark began coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating for the company. Stephens began coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective on the stock. JPMorgan Chase & Co. raised their target price 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. Finally, Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.25.

Penske Automotive Group Trading Down 0.4 %

Shares of PAG stock opened at $156.94 on Friday. The business’s fifty day moving average price is $159.73 and its 200 day moving average price is $158.07. The firm has a market capitalization of $10.48 billion, a PE ratio of 12.03 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $179.72.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share 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%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.90 earnings per share. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.5 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were issued a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 dividend on an annualized basis and a yield of 3.03%. Penske Automotive Group’s dividend payout ratio (DPR) is 36.48%.

About Penske Automotive Group

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.