Allspring Global Investments Holdings LLC purchased a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 72,128 shares of the company’s stock, valued at approximately $7,733,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. acquired a new stake in Penske Automotive Group during the 4th quarter valued at $1,351,000. Bessemer Group Inc. grew its holdings in Penske Automotive Group by 1,516.1% during the 4th quarter. Bessemer Group Inc. now owns 21,737 shares of the company’s stock worth $2,331,000 after acquiring an additional 20,392 shares in the last quarter. Leuthold Group LLC grew its holdings in Penske Automotive Group by 0.3% during the 3rd quarter. Leuthold Group LLC now owns 47,762 shares of the company’s stock worth $4,805,000 after acquiring an additional 132 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Penske Automotive Group during the 4th quarter worth $337,000. Finally, Janney Montgomery Scott LLC grew its holdings in Penske Automotive Group by 490.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 64,567 shares of the company’s stock worth $6,923,000 after acquiring an additional 53,636 shares in the last quarter. 50.18% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Penske Automotive Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Tuesday, March 8th. JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday. StockNews.com raised shares of Penske Automotive Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $114.83.
NYSE PAG opened at $93.99 on Monday. Penske Automotive Group, Inc. has a 52 week low of $72.35 and a 52 week high of $114.34. The company has a current ratio of 0.95, a quick ratio of 0.22 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 3.22 and a beta of 1.43. The company has a 50-day moving average price of $99.44 and a two-hundred day moving average price of $102.62.
Penske Automotive Group (NYSE:PAG – Get Rating) last posted its earnings results on Wednesday, February 9th. The company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. Penske Automotive Group had a net margin of 4.65% and a return on equity of 32.03%. The firm had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 15.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Thursday, February 10th were paid a $0.47 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, February 9th. Penske Automotive Group’s dividend payout ratio is currently 12.60%.
Penske Automotive Group Company Profile (Get Rating)
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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