Public Employees Retirement System of Ohio Makes New $901,000 Investment in Penske Automotive Group, Inc. $PAG

Public Employees Retirement System of Ohio bought a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,033 shares of the company’s stock, valued at approximately $901,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PAG. Navalign LLC purchased a new stake in shares of Penske Automotive Group during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new position in Penske Automotive Group in the 4th quarter valued at approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Penske Automotive Group in the 2nd quarter valued at approximately $35,000. Rothschild Investment LLC raised its holdings in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after purchasing an additional 66 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Penske Automotive Group during the first quarter worth $42,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Up 0.6%

Shares of NYSE:PAG opened at $218.18 on Thursday. 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 capitalization of $14.33 billion, a P/E ratio of 16.07 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 stock’s fifty day simple moving average is $210.43 and its 200-day simple moving average is $179.43.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.20. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%.The firm had revenue of $8.51 billion during the quarter, compared to analysts’ expectations of $7.98 billion. During the same quarter last year, the business posted $3.78 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.66 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.76 annualized dividend and a dividend yield of 2.6%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. Penske Automotive Group’s dividend payout ratio is 42.42%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PAG. Barclays raised their price target on Penske Automotive Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Stephens raised their target price on shares of Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Citigroup cut shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $199.00 to $210.00 in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Penske Automotive Group from $170.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Moderate Buy” and an average target price of $208.50.

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.