Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 8.6% during the third quarter, Holdings Channel reports. The firm owned 51,497 shares of the company’s stock after acquiring an additional 4,088 shares during the quarter. Deutsche Bank AG’s holdings in Penske Automotive Group were worth $5,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Penske Automotive Group by 2,318.3% during the second quarter. Bank of Montreal Can now owns 24,280 shares of the company’s stock worth $1,831,000 after purchasing an additional 23,276 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Penske Automotive Group by 7.4% during the second quarter. Public Employees Retirement System of Ohio now owns 18,154 shares of the company’s stock worth $1,370,000 after purchasing an additional 1,248 shares in the last quarter. Morgan Stanley grew its holdings in shares of Penske Automotive Group by 75.4% during the second quarter. Morgan Stanley now owns 606,567 shares of the company’s stock worth $45,789,000 after buying an additional 260,834 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Penske Automotive Group during the second quarter worth about $192,000. Finally, AQR Capital Management LLC grew its holdings in shares of Penske Automotive Group by 12.7% during the second quarter. AQR Capital Management LLC now owns 637,181 shares of the company’s stock worth $47,374,000 after buying an additional 71,562 shares during the last quarter. Institutional investors and hedge funds own 50.66% of the company’s stock.

Shares of Penske Automotive Group stock opened at $104.40 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.25. Penske Automotive Group, Inc. has a 1 year low of $59.44 and a 1 year high of $114.34. The company has a market capitalization of $8.17 billion, a P/E ratio of 7.78, a P/E/G ratio of 0.36 and a beta of 1.45. The business has a 50 day moving average price of $104.25 and a 200 day moving average price of $96.47.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Tuesday, October 26th. The company reported $4.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.54 by $0.92. Penske Automotive Group had a return on equity of 30.40% and a net margin of 4.29%. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the previous year, the firm posted $2.87 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts expect that Penske Automotive Group, Inc. will post 14.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 1st. Shareholders of record on Wednesday, November 10th were issued a $0.46 dividend. The ex-dividend date was Tuesday, November 9th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 1.76%. Penske Automotive Group’s payout ratio is 13.71%.

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered Penske Automotive Group from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a report on Wednesday, November 17th. Truist Securities lifted their price objective on Penske Automotive Group from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Stephens lifted their price objective on Penske Automotive Group from $108.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, October 28th. Truist boosted their price target on Penske Automotive Group from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Finally, Zacks Investment Research raised Penske Automotive Group from a “hold” rating to a “strong-buy” rating and set a $122.00 price target on the stock in a research note on Monday, November 1st. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $119.33.

Penske Automotive Group Profile

Penske Automotive Group, Inc operates as an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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