Point72 Asia Singapore Pte. Ltd. Purchases Shares of 2,043 Penske Automotive Group, Inc. (NYSE:PAG)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,043 shares of the company’s stock, valued at approximately $332,000.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Penske Automotive Group in the second quarter valued at about $1,516,000. Manning & Napier Advisors LLC bought a new stake in Penske Automotive Group in the 2nd quarter valued at about $3,742,000. Aristeia Capital L.L.C. acquired a new position in shares of Penske Automotive Group during the 2nd quarter worth approximately $626,000. Cerity Partners LLC increased its holdings in shares of Penske Automotive Group by 176.1% during the third quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after purchasing an additional 8,504 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of Penske Automotive Group in the first quarter valued at approximately $954,000. 77.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PAG. Stephens began coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target on the stock. Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th.

Penske Automotive Group Stock Down 0.6 %

Shares of NYSE:PAG opened at $166.46 on Wednesday. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72. The company has a fifty day moving average of $158.54 and a 200-day moving average of $157.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a market capitalization of $11.11 billion, a PE ratio of 12.76 and a beta of 1.18.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same period in the prior year, the company earned $3.90 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.5 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $1.19 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.86%. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

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.