Penske Automotive Group, Inc. $PAG Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group Inc. trimmed its stake in Penske Automotive by 6.0% in Q3, selling 11,173 shares and now holds 174,298 shares worth about $30.31 million (the stock is 77.08% held by institutional investors).
• Penske's quarterly results showed an EPS miss of $2.91 versus $3.19 expected, although revenue beat at $7.77 billion (down 3.8% year‑over‑year).
• The company raised its quarterly dividend to $1.40 (annualized $5.60, yield ~3.8%), and analysts maintain a Moderate Buy consensus with an average price target of $184.43 and several $195 targets.

Private Management Group Inc. reduced its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,298 shares of the company's stock after selling 11,173 shares during the quarter. Private Management Group Inc. owned 0.26% of Penske Automotive Group worth $30,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PAG. Rothschild Investment LLC lifted its position in shares of Penske Automotive Group by 935.3% during the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company's stock valued at $31,000 after acquiring an additional 159 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Penske Automotive Group in the 3rd quarter worth approximately $33,000. Acadian Asset Management LLC purchased a new position in Penske Automotive Group in the 1st quarter valued at approximately $42,000. Smartleaf Asset Management LLC increased its stake in Penske Automotive Group by 237.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 310 shares of the company's stock valued at $54,000 after purchasing an additional 218 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in Penske Automotive Group by 36.1% during the third quarter. Clearstead Advisors LLC now owns 441 shares of the company's stock worth $77,000 after purchasing an additional 117 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PAG shares. Barclays boosted their target price on Penske Automotive Group from $190.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 17th. Bank of America began coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They issued a "buy" rating and a $195.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $184.43.

Penske Automotive Group Trading Down 0.8%

Shares of Penske Automotive Group stock opened at $146.04 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $189.51. The company has a market capitalization of $9.60 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.53 and a beta of 0.90. The business has a 50 day moving average price of $161.70 and a 200 day moving average price of $166.31.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing analysts' consensus estimates of $3.19 by ($0.28). The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. Penske Automotive Group's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.54 EPS. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were given a $1.40 dividend. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group's dividend payout ratio (DPR) is currently 41.48%.

Penske Automotive Group Profile

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.

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