Savant Capital LLC Cuts Stake in Penske Automotive Group, Inc. $PAG

Savant Capital LLC lessened its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 51.2% in the 2nd quarter, Holdings Channel reports. The firm owned 2,380 shares of the company’s stock after selling 2,500 shares during the period. Savant Capital LLC’s holdings in Penske Automotive Group were worth $409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in Penske Automotive Group by 1.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,740 shares of the company’s stock worth $986,000 after buying an additional 60 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Penske Automotive Group by 3.7% in the first quarter. Martingale Asset Management L P now owns 1,750 shares of the company’s stock valued at $252,000 after acquiring an additional 63 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Penske Automotive Group by 18.6% in the second quarter. UMB Bank n.a. now owns 402 shares of the company’s stock worth $69,000 after acquiring an additional 63 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Penske Automotive Group by 2.9% during the first quarter. Voya Investment Management LLC now owns 2,306 shares of the company’s stock worth $332,000 after purchasing an additional 65 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of Penske Automotive Group by 2.9% during the first quarter. EP Wealth Advisors LLC now owns 2,478 shares of the company’s stock worth $357,000 after purchasing an additional 70 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,100 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $182.55, for a total transaction of $200,805.00. Following the completion of the sale, the chief financial officer owned 18,922 shares of the company’s stock, valued at $3,454,211.10. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 51.70% of the company’s stock.

Wall Street Analyst Weigh In

PAG has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Morgan Stanley increased their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lowered their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Citigroup upped their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, Barclays began coverage on shares of Penske Automotive Group in a report on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Penske Automotive Group has a consensus rating of “Moderate Buy” and a consensus target price of $185.86.

Penske Automotive Group Trading Down 0.5%

Shares of PAG stock opened at $159.03 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51. The company’s 50-day moving average price is $169.57 and its 200-day moving average price is $171.45. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 11.19 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, October 29th. The company reported $3.23 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.Penske Automotive Group’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $3.39 earnings per share. As a group, equities analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $1.38 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, November 14th. Penske Automotive Group’s payout ratio is currently 38.85%.

Penske Automotive Group 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.