Focus Partners Advisor Solutions LLC Makes New Investment in Penske Automotive Group, Inc. $PAG

Focus Partners Advisor Solutions LLC bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,454 shares of the company’s stock, valued at approximately $422,000.

Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in Penske Automotive Group by 1.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,740 shares of the company’s stock valued at $986,000 after purchasing an additional 60 shares during the period. Martingale Asset Management L P boosted its stake in Penske Automotive Group by 3.7% during the 1st quarter. Martingale Asset Management L P now owns 1,750 shares of the company’s stock valued at $252,000 after purchasing an additional 63 shares during the period. UMB Bank n.a. boosted its stake in Penske Automotive Group by 18.6% during 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 during the period. Voya Investment Management LLC boosted its stake in Penske Automotive Group by 2.9% during the 1st quarter. Voya Investment Management LLC now owns 2,306 shares of the company’s stock valued at $332,000 after purchasing an additional 65 shares during the period. Finally, EP Wealth Advisors LLC boosted its stake in Penske Automotive Group by 2.9% during the 1st quarter. EP Wealth Advisors LLC now owns 2,478 shares of the company’s stock valued at $357,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 0.1%

Penske Automotive Group stock opened at $160.96 on Friday. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 11.33 and a beta of 0.88. 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 company’s 50-day moving average price is $175.65 and its two-hundred day moving average price is $170.88. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $189.51.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, October 29th. The company reported $3.23 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.25). The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.39 EPS. On average, analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.4%. 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 payout ratio is presently 36.74%.

Insider Buying and Selling

In related news, CFO Michelle Hulgrave sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 in the company, valued at $3,454,211.10. The trade was a 5.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa Ann Davis sold 1,604 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the completion of the sale, the director owned 1,529 shares in the company, valued at $276,351.46. The trade was a 51.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 51.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PAG shares. Citigroup boosted their target price on shares of Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Morgan Stanley boosted their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Benchmark boosted their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. boosted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Penske Automotive Group in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.17.

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.