SG Americas Securities LLC Invests $648,000 in Penske Automotive Group, Inc. (NYSE:PAG)

SG Americas Securities LLC purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,501 shares of the company's stock, valued at approximately $648,000.

A number of other institutional investors have also made changes to their positions in the business. Two Sigma Investments LP lifted its holdings in Penske Automotive Group by 21.0% during the 4th quarter. Two Sigma Investments LP now owns 10,253 shares of the company's stock worth $1,563,000 after buying an additional 1,777 shares in the last quarter. Bank of Montreal Can raised its position in shares of Penske Automotive Group by 6.4% during the fourth quarter. Bank of Montreal Can now owns 2,651 shares of the company's stock worth $404,000 after acquiring an additional 160 shares during the last quarter. Rhumbline Advisers raised its position in shares of Penske Automotive Group by 4.7% during the fourth quarter. Rhumbline Advisers now owns 54,063 shares of the company's stock worth $8,241,000 after acquiring an additional 2,446 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at $3,018,000. Finally, Squarepoint Ops LLC boosted its holdings in Penske Automotive Group by 4.7% in the fourth quarter. Squarepoint Ops LLC now owns 19,643 shares of the company's stock valued at $2,994,000 after acquiring an additional 873 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAG. Wall Street Zen raised Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Citigroup lifted their price target on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. cut their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Bank of America lifted 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, Stephens reiterated an "equal weight" rating and set a $140.00 target price on shares of Penske Automotive Group in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $172.00.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $173.63 on Friday. The stock has a market cap of $11.49 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. The stock has a 50-day moving average of $161.42 and a 200-day moving average of $159.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.23. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.27 by $0.12. The firm had revenue of $7.60 billion during the quarter, compared to the consensus estimate of $7.68 billion. Penske Automotive Group had a net margin of 3.10% and a return on equity of 17.80%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 earnings per share. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th were given a $1.26 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.90%. 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 stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Greg C. Smith sold 1,529 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $161.64, for a total value of $247,147.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Roger S. Penske sold 77,357 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $161.37, for a total transaction of $12,483,099.09. Following the sale, the chief executive officer now owns 140,042 shares in the company, valued at $22,598,577.54. This trade represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,044 shares of company stock valued at $13,257,948. 51.70% of the stock is owned by company insiders.

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.

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