Quantbot Technologies LP Takes $2.51 Million Position in Penske Automotive Group, Inc. $PAG

Key Points

• Quantbot Technologies acquired 14,020 shares of Penske Automotive Group during the second quarter, worth approximately $2.51 million. Institutional investors collectively own 77.08% of the company.
• Penske reported quarterly EPS of $3.62, beating estimates of $3.42, while revenue rose 11.1% year over year to $8.51 billion.
• The company raised its quarterly dividend to $1.44 per share, or $5.76 annualized, representing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $208.50.

Quantbot Technologies LP acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,020 shares of the company's stock, valued at approximately $2,509,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PAG. Parallel Advisors LLC boosted its holdings in Penske Automotive Group by 15.1% in the 1st quarter. Parallel Advisors LLC now owns 441 shares of the company's stock valued at $66,000 after purchasing an additional 58 shares during the period. Bessemer Group Inc. increased its holdings in shares of Penske Automotive Group by 8.5% during the 1st quarter. Bessemer Group Inc. now owns 830 shares of the company's stock worth $124,000 after purchasing an additional 65 shares during the period. California State Teachers Retirement System raised its position in shares of Penske Automotive Group by 0.4% during the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company's stock valued at $3,167,000 after buying an additional 65 shares during the last quarter. Rothschild Investment LLC raised its position in shares of Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company's stock valued at $38,000 after buying an additional 66 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its stake in shares of Penske Automotive Group by 2.7% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,630 shares of the company's stock valued at $416,000 after buying an additional 70 shares during the period. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock opened at $216.71 on Monday. The firm has a market cap of $14.23 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. The firm's 50-day simple moving average is $200.13 and its 200-day simple moving average is $174.79. Penske Automotive Group, Inc. has a twelve month low of $140.12 and a twelve month high of $227.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.21 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.20. The firm had revenue of $8.51 billion during the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.78 earnings per share. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.61 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.42. Penske Automotive Group's payout ratio is currently 42.42%.

Insider Activity

In related news, CFO Michelle Hulgrave sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the completion of the transaction, the chief financial officer owned 17,596 shares in the company, valued at $3,022,992.80. This trade represents a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 52.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PAG shares. Barclays boosted their price target on Penske Automotive Group from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday. Morgan Stanley reiterated an "overweight" rating and issued a $190.00 price objective on shares of Penske Automotive Group in a research report on Thursday, May 7th. Benchmark lowered Penske Automotive Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Bank of America boosted their price objective on Penske Automotive Group from $200.00 to $238.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, Stephens upped their target price on Penske Automotive Group from $166.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.50.

Penske Automotive Group Company 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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