Sei Investments Co. Grows Position in Penske Automotive Group, Inc. $PAG

Sei Investments Co. lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 15.3% during the first quarter, Holdings Channel.com reports. The firm owned 25,600 shares of the company’s stock after acquiring an additional 3,397 shares during the period. Sei Investments Co.’s holdings in Penske Automotive Group were worth $3,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Navalign LLC acquired a new position in shares of Penske Automotive Group in the 4th quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in Penske Automotive Group during the fourth quarter valued at $30,000. Rothschild Investment LLC grew its position in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after buying an additional 66 shares during the period. Acadian Asset Management LLC acquired a new stake in Penske Automotive Group during the first quarter valued at $42,000. Finally, Global Retirement Partners LLC increased its holdings in Penske Automotive Group by 186.6% in the fourth quarter. Global Retirement Partners LLC now owns 321 shares of the company’s stock valued at $51,000 after buying an additional 209 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Stock Performance

PAG opened at $216.31 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.89 and a beta of 0.84. Penske Automotive Group, Inc. has a 52-week low of $140.12 and a 52-week high of $227.00. The firm’s fifty day simple moving average is $190.65 and its two-hundred day simple moving average is $170.39.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.42 by $0.20. The business had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.78 earnings per share. Equities analysts anticipate that Penske Automotive Group, Inc. will post 13.48 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, August 14th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.42. Penske Automotive Group’s payout ratio is presently 42.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PAG shares. Bank of America upped their price objective on shares of Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Citigroup lowered Penske Automotive Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $199.00 to $210.00 in a research note on Thursday, July 23rd. Morgan Stanley reiterated an “overweight” rating and set a $190.00 price target on shares of Penske Automotive Group in a research report on Thursday, May 7th. Weiss Ratings raised Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Finally, Barclays boosted their price objective on Penske Automotive Group from $190.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Penske Automotive Group has a consensus rating of “Moderate Buy” and a consensus price target of $207.88.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the completion of the sale, the chief financial officer directly owned 17,596 shares in the company, valued at approximately $3,022,992.80. The trade was a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Smith sold 1,488 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The disclosure for this sale is available in the SEC filing. 52.90% of the stock is currently owned by insiders.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.