SG Americas Securities LLC raised its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 109.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,297 shares of the company’s stock after purchasing an additional 3,805 shares during the period. SG Americas Securities LLC’s holdings in Penske Automotive Group were worth $342,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. acquired a new position in shares of Penske Automotive Group in the first quarter valued at $102,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Penske Automotive Group in the first quarter valued at $141,000. State of Alaska Department of Revenue increased its holdings in shares of Penske Automotive Group by 39.8% in the second quarter. State of Alaska Department of Revenue now owns 3,913 shares of the company’s stock valued at $183,000 after purchasing an additional 1,113 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Penske Automotive Group in the first quarter valued at $270,000. Finally, Ramsey Quantitative Systems increased its holdings in shares of Penske Automotive Group by 42.6% in the second quarter. Ramsey Quantitative Systems now owns 7,418 shares of the company’s stock valued at $348,000 after purchasing an additional 2,216 shares during the last quarter. Hedge funds and other institutional investors own 42.51% of the company’s stock.
PAG stock opened at $50.35 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.22 and a current ratio of 1.01. Penske Automotive Group, Inc. has a 52 week low of $41.74 and a 52 week high of $54.83. The stock has a market capitalization of $4.45 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.44 and a beta of 1.47.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.14. Penske Automotive Group had a net margin of 2.95% and a return on equity of 17.68%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the company posted $1.27 earnings per share. Penske Automotive Group’s revenue was up 10.3% compared to the same quarter last year. analysts predict that Penske Automotive Group, Inc. will post 5.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Friday, August 10th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 2.86%. Penske Automotive Group’s dividend payout ratio is 33.41%.
PAG has been the topic of several research reports. SunTrust Banks initiated coverage on shares of Penske Automotive Group in a report on Friday, August 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Penske Automotive Group from $56.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Tuesday, June 19th. Finally, Guggenheim set a $58.00 price objective on shares of Penske Automotive Group and gave the company a “buy” rating in a report on Friday, July 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Penske Automotive Group has an average rating of “Buy” and a consensus target price of $58.13.
Penske Automotive Group Company Profile
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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