Fiduciary Management Inc. WI boosted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,826,407 shares of the company’s stock after purchasing an additional 56,497 shares during the period. Fiduciary Management Inc. WI owned about 2.15% of Penske Automotive Group worth $80,965,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bruni J V & Co. Co. lifted its stake in Penske Automotive Group by 0.5% during the first quarter. Bruni J V & Co. Co. now owns 278,404 shares of the company’s stock worth $12,342,000 after purchasing an additional 1,338 shares during the last quarter. Fenimore Asset Management Inc. lifted its stake in shares of Penske Automotive Group by 0.4% in the 4th quarter. Fenimore Asset Management Inc. now owns 324,654 shares of the company’s stock valued at $15,535,000 after acquiring an additional 1,400 shares during the last quarter. Aperio Group LLC lifted its stake in shares of Penske Automotive Group by 22.8% in the 4th quarter. Aperio Group LLC now owns 8,543 shares of the company’s stock valued at $409,000 after acquiring an additional 1,586 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Penske Automotive Group by 8.1% in the 4th quarter. Macquarie Group Ltd. now owns 21,300 shares of the company’s stock valued at $1,020,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Penske Automotive Group by 2.4% in the 1st quarter. Swiss National Bank now owns 67,500 shares of the company’s stock valued at $2,992,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 42.23% of the company’s stock.
Shares of Penske Automotive Group opened at $50.41 on Friday, MarketBeat.com reports. The firm has a market cap of $4.33 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.37 and a beta of 1.50. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.23. Penske Automotive Group, Inc. has a 12-month low of $38.33 and a 12-month high of $54.83.
Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, April 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.12. Penske Automotive Group had a return on equity of 17.56% and a net margin of 2.90%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $0.97 EPS. Penske Automotive Group’s revenue for the quarter was up 13.1% compared to the same quarter last year. analysts expect that Penske Automotive Group, Inc. will post 5.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Monday, May 21st were issued a dividend of $0.35 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Friday, May 18th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 32.48%.
PAG has been the subject of a number of research reports. Morgan Stanley increased their price target on Penske Automotive Group from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, March 14th. ValuEngine cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Finally, Guggenheim initiated coverage on Penske Automotive Group in a research report on Monday, April 16th. They set a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.38.
In other Penske Automotive Group news, major shareholder & Co Ltd Mitsui sold 1,133,016 shares of the stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $44.13, for a total transaction of $49,999,996.08. Following the completion of the sale, the insider now directly owns 10,658,163 shares in the company, valued at approximately $470,344,733.19. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shane M. Spradlin sold 2,150 shares of the stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $48.35, for a total value of $103,952.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,140,166 shares of company stock valued at $50,346,849. Company insiders own 41.60% of the company’s stock.
About Penske Automotive Group
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.
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