Quantinno Capital Management LP Trims Stock Holdings in Penske Automotive Group, Inc. $PAG

Key Points

• Quantinno Capital Management cut its Penske Automotive Group stake by 45.7% in the first quarter, selling 40,215 shares and retaining 47,763 shares valued at approximately $7.1 million. Institutional investors collectively own 77.08% of PAG.
• Penske reported quarterly earnings of $3.62 per share, exceeding estimates of $3.42, while revenue rose 11.1% year over year to $8.51 billion. The stock was trading near $215.84, above the analyst consensus target of $207.88.
• The company raised its quarterly dividend to $1.44 per share, equivalent to an annualized $5.76 dividend and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus, while recent insider transactions included share sales by a director and the CFO.

Quantinno Capital Management LP lessened its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 45.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,763 shares of the company's stock after selling 40,215 shares during the quarter. Quantinno Capital Management LP owned 0.07% of Penske Automotive Group worth $7,142,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Navalign LLC purchased a new position in shares of Penske Automotive Group during the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth approximately $30,000. Rothschild Investment LLC increased its stake in shares of Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company's stock worth $38,000 after buying an additional 66 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Penske Automotive Group in the first quarter worth $42,000. Finally, Global Retirement Partners LLC raised its holdings in Penske Automotive Group by 186.6% in the fourth quarter. Global Retirement Partners LLC now owns 321 shares of the company's stock valued at $51,000 after acquiring an additional 209 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Trading Down 1.5%

Penske Automotive Group stock opened at $215.84 on Thursday. Penske Automotive Group, Inc. has a 1 year low of $140.12 and a 1 year high of $227.00. The firm's 50-day moving average is $189.69 and its 200-day moving average is $170.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.21 and a current ratio of 0.98. The company has a market cap of $14.17 billion, a P/E ratio of 15.89, a PEG ratio of 2.94 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same quarter in the prior year, the business earned $3.78 earnings per share. Penske Automotive Group's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.48 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $1.44 dividend. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.76 annualized dividend and a dividend yield of 2.7%. Penske Automotive Group's dividend payout ratio (DPR) is 41.83%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley reissued an "overweight" rating and set a $190.00 price objective on shares of Penske Automotive Group in a report on Thursday, May 7th. Citigroup downgraded Penske Automotive Group from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $199.00 to $210.00 in a research note on Thursday, July 23rd. UBS Group set a $190.00 price objective on Penske Automotive Group in a report on Friday, July 10th. Stephens upped their price objective on Penske Automotive Group from $166.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Weiss Ratings raised Penske Automotive Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $207.88.

Insider Activity at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,488 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $160.02, for a total transaction of $238,109.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michelle Hulgrave sold 1,500 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the transaction, the chief financial officer directly owned 17,596 shares of the company's stock, valued at $3,022,992.80. This trade represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 52.90% of the company's stock.

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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