Penske Automotive Group, Inc. (NYSE:PAG) Position Lessened by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,237 shares of the company’s stock after selling 879 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Penske Automotive Group were worth $1,561,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Penske Automotive Group during the 4th quarter valued at $40,000. Headlands Technologies LLC bought a new stake in Penske Automotive Group during the 4th quarter valued at $76,000. TD Waterhouse Canada Inc. raised its stake in Penske Automotive Group by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company’s stock valued at $81,000 after acquiring an additional 158 shares in the last quarter. KBC Group NV raised its stake in Penske Automotive Group by 33.5% during the 4th quarter. KBC Group NV now owns 749 shares of the company’s stock valued at $114,000 after acquiring an additional 188 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in Penske Automotive Group by 57.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,108 shares of the company’s stock valued at $169,000 after acquiring an additional 404 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $166.32 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 12.10 and a beta of 0.90. The stock’s fifty day simple moving average is $152.47 and its 200 day simple moving average is $158.64. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.12. The business had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 EPS. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th will be issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.22. The ex-dividend date is Tuesday, May 27th. Penske Automotive Group’s payout ratio is presently 35.49%.

Insider Activity

In other news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a filing with the SEC, which is available at this link. 51.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PAG. Stephens reaffirmed an “equal weight” rating and set a $140.00 target price on shares of Penske Automotive Group in a research note on Monday, May 5th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. Citigroup assumed coverage on Penske Automotive Group in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $185.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Moderate Buy” and a consensus price target of $165.00.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.