WINTON GROUP Ltd cut its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,215 shares of the company’s stock after selling 319 shares during the quarter. WINTON GROUP Ltd’s holdings in Penske Automotive Group were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Penske Automotive Group by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 1,916,918 shares of the company’s stock worth $144,708,000 after purchasing an additional 264,504 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Penske Automotive Group by 2.0% in the 1st quarter. BlackRock Inc. now owns 1,464,411 shares of the company’s stock worth $117,508,000 after buying an additional 28,250 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Penske Automotive Group by 7.1% in the first quarter. AQR Capital Management LLC now owns 565,619 shares of the company’s stock valued at $45,385,000 after acquiring an additional 37,695 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 418,262 shares of the company’s stock valued at $33,561,000 after acquiring an additional 8,665 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Penske Automotive Group by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 390,652 shares of the company’s stock worth $31,346,000 after acquiring an additional 28,698 shares during the period. Institutional investors own 35.13% of the company’s stock.
Several brokerages have recently issued reports on PAG. Bank of America raised their target price on Penske Automotive Group from $119.00 to $141.00 and gave the company a “buy” rating in a research report on Friday, July 16th. Morgan Stanley lifted their price objective on shares of Penske Automotive Group from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $85.00.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, July 27th. The company reported $4.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.99 by $0.42. The business had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.49 billion. Penske Automotive Group had a return on equity of 28.52% and a net margin of 3.94%. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Tuesday, August 10th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.86%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, August 9th. Penske Automotive Group’s payout ratio is currently 27.11%.
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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