1,510 Shares in Penske Automotive Group, Inc. $PAG Purchased by Callan Family Office LLC

Key Points

• Callan Family Office LLC has invested approximately $217,000 in Penske Automotive Group by acquiring 1,510 new shares of the company.
• Several institutional investors, including UMB Bank and GAMMA Investing LLC, significantly increased their stakes in Penske Automotive Group during the first quarter, demonstrating strong institutional interest in the company.
• Penske Automotive Group recently announced an increase in its quarterly dividend to $1.32 per share, reflecting positive financial performance, alongside a share repurchase program allowing for the buyback of $250 million in outstanding shares.

Callan Family Office LLC acquired a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,510 shares of the company's stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PAG. Financial Engines Advisors L.L.C. raised its stake in shares of Penske Automotive Group by 99.0% during the first quarter. Financial Engines Advisors L.L.C. now owns 5,788 shares of the company's stock valued at $833,000 after acquiring an additional 2,879 shares during the last quarter. CCM Investment Group LLC bought a new position in shares of Penske Automotive Group during the first quarter valued at $297,000. Nuveen LLC bought a new position in shares of Penske Automotive Group during the first quarter valued at $10,004,000. Invesco Ltd. raised its stake in shares of Penske Automotive Group by 3.4% during the first quarter. Invesco Ltd. now owns 223,630 shares of the company's stock valued at $32,198,000 after acquiring an additional 7,276 shares during the last quarter. Finally, Atlas Capital Advisors Inc. raised its stake in Penske Automotive Group by 62.7% during the first quarter. Atlas Capital Advisors Inc. now owns 2,418 shares of the company's stock worth $348,000 after buying an additional 932 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Insider Activity

In other news, Director Greg C. Smith sold 1,529 shares of Penske Automotive Group stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $161.64, for a total transaction of $247,147.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Roger S. Penske sold 77,357 shares of Penske Automotive Group stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $161.37, for a total transaction of $12,483,099.09. Following the transaction, the chief executive officer owned 140,042 shares of the company's stock, valued at $22,598,577.54. This represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,044 shares of company stock worth $13,257,948 over the last three months. 52.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PAG shares. Stephens reissued an "equal weight" rating and set a $140.00 target price on shares of Penske Automotive Group in a research note on Wednesday, June 11th. Bank of America lifted their target price on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Morgan Stanley lifted their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Citigroup lifted their target price on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Wall Street Zen raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.00.

Penske Automotive Group Stock Up 1.7%

Shares of PAG stock traded up $3.1550 on Tuesday, reaching $183.6750. 210,167 shares of the company were exchanged, compared to its average volume of 241,368. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 12.78 and a beta of 0.87. The company has a 50-day moving average of $174.63 and a 200-day moving average of $164.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.90 and a quick ratio of 0.21. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $186.55.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.22. The firm had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.98 billion. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The business's revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $3.61 earnings per share. Analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a dividend of $1.32 per share. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 15th. Penske Automotive Group's dividend payout ratio is 36.74%.

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.