GAM Holding AG trimmed its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,314 shares of the company’s stock after selling 23,264 shares during the period. GAM Holding AG owned approximately 0.28% of Penske Automotive Group worth $11,036,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. purchased a new position in shares of Penske Automotive Group during the second quarter worth about $31,000. Pearl River Capital LLC purchased a new position in shares of Penske Automotive Group during the second quarter worth about $31,000. Signaturefd LLC grew its holdings in shares of Penske Automotive Group by 90.5% during the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock worth $42,000 after buying an additional 417 shares during the last quarter. TD Capital Management LLC purchased a new position in shares of Penske Automotive Group during the second quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Penske Automotive Group during the first quarter worth about $125,000. Institutional investors own 42.76% of the company’s stock.
PAG stock traded up $0.28 on Friday, hitting $47.97. 3,161 shares of the company’s stock traded hands, compared to its average volume of 337,152. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.80. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 1.66 and a beta of 1.33. Penske Automotive Group, Inc. has a 1-year low of $38.49 and a 1-year high of $53.63. The stock has a fifty day moving average of $44.16 and a 200-day moving average of $44.80.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.17). Penske Automotive Group had a return on equity of 16.56% and a net margin of 2.00%. The business had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the business posted $1.58 earnings per share. Penske Automotive Group’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post 5.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date was Thursday, August 8th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.39. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.96%.
A number of equities research analysts recently commented on PAG shares. Morgan Stanley raised their price objective on shares of Penske Automotive Group from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Northcoast Research restated a “buy” rating on shares of Penske Automotive Group in a research report on Thursday, August 1st. ValuEngine cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating and set a $46.00 price target for the company in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Penske Automotive Group currently has an average rating of “Hold” and a consensus target price of $53.00.
Penske Automotive Group 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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