Inceptionr LLC Purchases Shares of 7,992 Penske Automotive Group, Inc. $PAG

Inceptionr LLC acquired a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,992 shares of the company’s stock, valued at approximately $1,390,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAG. PNC Financial Services Group Inc. increased its stake in Penske Automotive Group by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock valued at $561,000 after acquiring an additional 65 shares during the period. Aptus Capital Advisors LLC lifted its holdings in Penske Automotive Group by 5.4% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock valued at $219,000 after purchasing an additional 65 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after acquiring an additional 65 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Penske Automotive Group by 11.0% in the third quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock worth $116,000 after purchasing an additional 67 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of Penske Automotive Group by 2.8% in the third quarter. Truist Financial Corp now owns 2,576 shares of the company’s stock valued at $448,000 after buying an additional 70 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Stock Down 0.6%

NYSE PAG opened at $156.77 on Monday. The stock has a market capitalization of $10.31 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $189.51. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.99. The stock has a fifty day moving average of $162.71 and a 200-day moving average of $167.27.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.19 by ($0.28). The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.54 EPS. On average, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, February 25th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.38. Penske Automotive Group’s dividend payout ratio is currently 41.48%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAG. Bank of America initiated coverage on Penske Automotive Group in a report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price target for the company. Barclays raised their price objective on shares of Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.43.

About Penske Automotive Group

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.