Penske Automotive Group, Inc. $PAG Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 49.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,666 shares of the company’s stock after selling 76,361 shares during the period. Squarepoint Ops LLC owned about 0.12% of Penske Automotive Group worth $14,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Navalign LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in shares of Penske Automotive Group during the fourth quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Penske Automotive Group during the second quarter worth about $35,000. Rothschild Investment LLC boosted its position in shares of Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after buying an additional 66 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Penske Automotive Group in the first quarter valued at about $42,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.6%

PAG opened at $218.18 on Thursday. Penske Automotive Group, Inc. has a 12-month low of $140.12 and a 12-month high of $227.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. The stock has a market capitalization of $14.33 billion, a PE ratio of 16.07 and a beta of 0.84. The firm’s fifty day moving average price is $210.43 and its 200 day moving average price is $179.43.

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

Penske Automotive Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PAG shares. Benchmark downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Bank of America lifted their price objective on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Barclays upped their target price on shares of Penske Automotive Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, UBS Group set a $190.00 price target on shares of Penske Automotive Group in a report on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.