LSV Asset Management Decreases Position in Penske Automotive Group, Inc. $PAG

LSV Asset Management cut its position in Penske Automotive Group, Inc. (NYSE:PAG) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 745,533 shares of the company’s stock after selling 19,159 shares during the quarter. LSV Asset Management’s holdings in Penske Automotive Group were worth $118,010,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAG. Navalign LLC purchased a new position in Penske Automotive Group in the fourth quarter worth about $26,000. International Assets Investment Management LLC purchased a new position in Penske Automotive Group in the fourth quarter worth about $30,000. Rothschild Investment LLC raised its holdings in Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after buying an additional 159 shares during the last quarter. Root Financial Partners LLC purchased a new position in Penske Automotive Group in the third quarter worth about $33,000. Finally, Acadian Asset Management LLC purchased a new position in Penske Automotive Group in the first quarter worth about $42,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAG. Barclays decreased their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Stephens lifted their target price on shares of Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Citigroup lifted their target price on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Penske Automotive Group in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.86.

Insider Transactions at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,488 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total transaction of $238,109.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 52.90% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $164.95 on Friday. The firm has a 50 day moving average of $156.76 and a 200 day moving average of $160.32. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. Penske Automotive Group, Inc. has a 12-month low of $140.12 and a 12-month high of $189.51.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.14. The company had revenue of $7.86 billion during 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 firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.66 earnings per share. On average, research analysts anticipate that Penske Automotive Group, Inc. will post 13.44 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced 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. This represents a $5.68 annualized dividend and a yield of 3.4%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, May 26th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 41.79%.

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.