Caxton Associates LLP Buys Shares of 4,627 Penske Automotive Group, Inc. $PAG

Key Points

• Caxton Associates LLP recently acquired 4,627 shares of Penske Automotive Group, valued at approximately $666,000, reflecting growing institutional interest in the company.
• Penske Automotive Group reported earnings per share (EPS) of $3.78 for the most recent quarter, exceeding estimates but showing a slight revenue decline of 0.4% year-over-year.
• The company announced a quarterly dividend increase from $1.26 to $1.32 per share, reflecting a commitment to returning value to shareholders, with a current annualized yield of 2.8%.

Caxton Associates LLP bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,627 shares of the company's stock, valued at approximately $666,000.

Several other institutional investors have also recently made changes to their positions in PAG. UMB Bank n.a. lifted its stake in shares of Penske Automotive Group by 421.5% in the 1st quarter. UMB Bank n.a. now owns 339 shares of the company's stock worth $49,000 after purchasing an additional 274 shares during the period. GAMMA Investing LLC lifted its stake in shares of Penske Automotive Group by 51.9% in the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company's stock worth $57,000 after purchasing an additional 136 shares during the period. Brooklyn Investment Group lifted its stake in shares of Penske Automotive Group by 353.0% in the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 353 shares during the period. Fifth Third Bancorp lifted its stake in shares of Penske Automotive Group by 31.0% in the 1st quarter. Fifth Third Bancorp now owns 528 shares of the company's stock worth $76,000 after purchasing an additional 125 shares during the period. Finally, State of Wyoming bought a new position in shares of Penske Automotive Group in the 4th quarter worth approximately $105,000. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Up 0.7%

Penske Automotive Group stock opened at $185.46 on Friday. The firm has a 50 day moving average of $179.07 and a 200 day moving average of $166.48. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 12.91 and a beta of 0.89. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $189.51. The company has a current ratio of 0.90, a quick ratio of 0.21 and a debt-to-equity ratio of 0.16.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.22. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.98 billion. During the same period in the prior year, the firm posted $3.61 EPS. The firm's quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $1.32 per share. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Friday, August 15th. This represents a $5.28 dividend on an annualized basis and a yield of 2.8%. Penske Automotive Group's payout ratio is 36.74%.

Insider Buying and Selling

In other Penske Automotive Group news, Director Lisa Ann Davis sold 1,604 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $180.74, for a total transaction of $289,906.96. Following the completion of the sale, the director directly owned 1,529 shares of the company's stock, valued at $276,351.46. This trade represents a 51.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michelle Hulgrave sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total transaction of $200,805.00. Following the sale, the chief financial officer directly owned 18,922 shares of the company's stock, valued at approximately $3,454,211.10. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 51.70% of the company's stock.

Analyst Ratings Changes

PAG has been the topic of several recent research reports. Citigroup increased their price objective 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. JPMorgan Chase & Co. upgraded shares of Penske Automotive Group from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $155.00 to $175.00 in a research note on Tuesday, August 5th. Stephens reiterated an "equal weight" rating and issued a $140.00 price objective on shares of Penske Automotive Group in a research note on Wednesday, June 11th. Bank of America increased their target price on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Morgan Stanley increased their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $181.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.