Nomura Holdings Inc. Takes Position in Penske Automotive Group, Inc. (NYSE:PAG)

Nomura Holdings Inc. purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,481 shares of the company's stock, valued at approximately $378,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Merit Financial Group LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter worth approximately $287,000. Nisa Investment Advisors LLC raised its position in Penske Automotive Group by 18.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 25,916 shares of the company's stock valued at $3,951,000 after buying an additional 4,000 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Penske Automotive Group by 19.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,767 shares of the company's stock valued at $8,501,000 after acquiring an additional 9,199 shares in the last quarter. Inspire Investing LLC lifted its stake in Penske Automotive Group by 7.8% during the 4th quarter. Inspire Investing LLC now owns 6,164 shares of the company's stock valued at $940,000 after acquiring an additional 445 shares in the last quarter. Finally, Applied Capital LLC FL boosted its holdings in Penske Automotive Group by 2.0% during the 4th quarter. Applied Capital LLC FL now owns 21,600 shares of the company's stock worth $3,293,000 after acquiring an additional 424 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Analyst Ratings Changes

PAG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Stephens reissued an "equal weight" rating and set a $140.00 target price on shares of Penske Automotive Group in a report on Monday, May 5th. Citigroup increased their price target on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a report 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.00.

Penske Automotive Group Price Performance

Shares of NYSE:PAG traded down $0.35 on Wednesday, hitting $163.84. The company's stock had a trading volume of 10,741 shares, compared to its average volume of 232,241. The company has a market capitalization of $10.84 billion, a PE ratio of 11.92 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a 50-day simple moving average of $154.33 and a 200 day simple moving average of $159.09. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.12. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same period in the previous year, the business posted $3.21 earnings per share. Penske Automotive Group's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th will be paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.22. Penske Automotive Group's dividend payout ratio is currently 35.49%.

Penske Automotive Group announced that its board has approved a share buyback plan on Wednesday, May 14th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 52.40% of the stock is owned by insiders.

Penske Automotive Group Company 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.