JPMorgan Chase & Co. grew its holdings in shares of KAR Auction Services, Inc (NYSE:KAR) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,147,425 shares of the specialty retailer’s stock after purchasing an additional 30,299 shares during the period. JPMorgan Chase & Co. owned approximately 1.59% of KAR Auction Services worth $100,972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of KAR Auction Services by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 11,344,446 shares of the specialty retailer’s stock worth $476,126,000 after acquiring an additional 57,704 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of KAR Auction Services by 18.6% during the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock worth $246,255,000 after acquiring an additional 918,735 shares in the last quarter. BlackRock Inc. boosted its stake in shares of KAR Auction Services by 1.9% during the 2nd quarter. BlackRock Inc. now owns 5,726,037 shares of the specialty retailer’s stock worth $240,320,000 after acquiring an additional 107,601 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of KAR Auction Services by 2.9% during the 3rd quarter. Bessemer Group Inc. now owns 3,207,071 shares of the specialty retailer’s stock worth $153,105,000 after acquiring an additional 91,373 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of KAR Auction Services by 5.0% during the 2nd quarter. Schroder Investment Management Group now owns 2,730,979 shares of the specialty retailer’s stock worth $114,045,000 after acquiring an additional 130,936 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

In related news, EVP Benjamin Skuy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total value of $481,400.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

KAR Auction Services, Inc (NYSE:KAR) traded down $0.18 during mid-day trading on Monday, reaching $50.19. The company had a trading volume of 694,700 shares, compared to its average volume of 949,316. KAR Auction Services, Inc has a 12-month low of $40.27 and a 12-month high of $50.69. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market cap of $6,788.94, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.58 and a beta of 1.07.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The firm had revenue of $843.00 million for the quarter, compared to analyst estimates of $846.42 million. During the same quarter in the prior year, the company earned $0.50 EPS. KAR Auction Services’s revenue was up 6.8% on a year-over-year basis. analysts anticipate that KAR Auction Services, Inc will post 2.36 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.79%. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio is presently 75.29%.

Several brokerages have recently commented on KAR. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, November 8th. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, November 2nd. J P Morgan Chase & Co boosted their price target on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Jefferies Group reissued a “buy” rating and set a $50.00 price target on shares of KAR Auction Services in a research note on Tuesday, September 12th. Finally, Stephens lowered KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $51.00 to $48.00 in a research note on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $52.20.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://www.watchlistnews.com/kar-auction-services-inc-kar-holdings-boosted-by-jpmorgan-chase-co/1743091.html.

About KAR Auction Services

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.