2 weeks Ago By Defense World Staff
Wells Fargo & Company MN lessened its stake in shares of Penske Automotive Group, Inc. ( NYSE:PAG – Free Report ) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission.
The fund owned 13,713 shares of the company’s stock after selling 715 shares during the period. Wells Fargo & Company MN’s holdings in Penske Automotive Group were worth $2,090,000 at the end of the most recent reporting period. A number of other hedge funds have also bought and sold shares of the stock.
Vanguard Group Inc. lifted its stake in shares of Penske Automotive Group by 0.7% during the fourth quarter.
Vanguard Group Inc. now owns 1,999,191 shares of the company’s stock worth $304,757,000 after buying an additional 12,912 shares during the period. Bank of New York Mellon Corp raised its stake in Penske Automotive Group by 24.
4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock worth $40,179,000 after acquiring an additional 51,720 shares during the last quarter. American Century Companies Inc.
lifted its position in Penske Automotive Group by 17.4% during the 4th quarter. American Century Companies Inc.
now owns 259,513 shares of the company’s stock worth $39,560,000 after acquiring an additional 38,388 shares during the period. Bruni J V & Co. Co.
grew its stake in Penske Automotive Group by 1.9% during the 4th quarter. Bruni J V & Co.
Co. now owns 200,142 shares of the company’s stock valued at $30,510,000 after purchasing an additional 3,738 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of Penske Automotive Group by 0.
8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company’s stock valued at $27,891,000 after purchasing an additional 1,486 shares during the period. Institutional investors and hedge funds own 77.
08% of the company’s stock. Analyst Ratings Changes A number of research firms recently commented on PAG. Stephens reaffirmed an “equal weight” rating and set a $165.
00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Citigroup started coverage on shares of Penske Automotive Group in a research note on Wednesday. They set a “buy” rating and a $185.
00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of 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. Finally, StockNews.
com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.
com, Penske Automotive Group presently has an average rating of “Moderate Buy” and an average price target of $170.00. Penske Automotive Group Stock Performance PAG opened at $157.
58 on Friday. The firm has a fifty day moving average price of $154.45 and a 200 day moving average price of $158.
07. Penske Automotive Group, Inc. has a 1 year low of $134.
05 and a 1 year high of $180.12. The stock has a market cap of $10.
52 billion, a P/E ratio of 11.46 and a beta of 1.03.
The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.
20. Penske Automotive Group ( NYSE:PAG – Get Free Report ) last posted its earnings results on Thursday, February 13th. The company reported $3.
54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17.
The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion.
Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%.
Equities research analysts anticipate 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 was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $1.22 dividend.
The ex-dividend date was Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19.
This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.10%.
Penske Automotive Group’s payout ratio is 35.49%. Insider Transactions at Penske Automotive Group In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction that occurred on Friday, February 14th.
The shares were sold at an average price of $173.03, for a total value of $1,513,320.38.
Following the completion of the transaction, the executive vice president now owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.
22 % decrease in their position. The disclosure for this sale can be found here . Corporate insiders own 51.
70% of the company’s stock. Penske Automotive Group Company Profile ( Free Report ) 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. Featured Articles Five stocks we like better than Penske Automotive Group 3 Best Fintech Stocks for a Portfolio Boost Short Sellers Gave Up on These 3 Names Recently What Are the U.K.
Market Holidays? How to Invest and Trade 3 Boring Stocks Outperforming the Market This Year How to Choose Top Rated Stocks If You Wanted To Buy AbbVie and Didn’t, There’s Still Time To Buy Receive News & Ratings for Penske Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penske Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter ..
