Penske Automotive Group, Inc. (PAG) Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 99.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 371,700 shares of the company’s stock after acquiring an additional 185,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.43% of Penske Automotive Group worth $16,321,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. IFP Advisors Inc lifted its stake in shares of Penske Automotive Group by 0.6% in the second quarter. IFP Advisors Inc now owns 18,404 shares of the company’s stock worth $808,000 after acquiring an additional 109 shares in the last quarter. Aristotle Capital Management LLC lifted its stake in shares of Penske Automotive Group by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 39,215 shares of the company’s stock worth $1,836,000 after acquiring an additional 125 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its stake in shares of Penske Automotive Group by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 24,585 shares of the company’s stock worth $1,080,000 after acquiring an additional 135 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Penske Automotive Group by 3.4% in the first quarter. Amalgamated Bank now owns 5,518 shares of the company’s stock worth $258,000 after acquiring an additional 180 shares in the last quarter. Finally, Alpha Windward LLC lifted its stake in shares of Penske Automotive Group by 2.6% in the second quarter. Alpha Windward LLC now owns 10,320 shares of the company’s stock worth $453,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

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In other Penske Automotive Group news, EVP Claude H. Denker III sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the completion of the transaction, the executive vice president now owns 22,243 shares in the company, valued at $917,968.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 40.70% of the stock is owned by company insiders.

PAG has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Penske Automotive Group in a research note on Wednesday, October 4th. Northcoast Research initiated coverage on Penske Automotive Group in a research note on Thursday, September 28th. They issued a “buy” rating and a $56.00 price target on the stock. Berenberg Bank initiated coverage on Penske Automotive Group in a research note on Wednesday, October 4th. They issued a “hold” rating and a $52.00 price target on the stock. Zacks Investment Research cut Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, ValuEngine cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $55.83.

Shares of Penske Automotive Group, Inc. (NYSE PAG) opened at 45.24 on Friday. The firm has a market cap of $3.89 billion, a PE ratio of 10.78 and a beta of 1.45. Penske Automotive Group, Inc. has a 52 week low of $38.33 and a 52 week high of $56.05. The firm’s 50-day moving average price is $44.78 and its 200 day moving average price is $43.91.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. Equities analysts anticipate that Penske Automotive Group, Inc. will post $4.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a dividend of $0.33 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.92%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 30.55%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.

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

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