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Pacific Global Investment Management Co. Cuts Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Pacific Global Investment Management Co. trimmed its stake in shares of Penske Automotive Group, Inc. (NYSE:PAGGet Rating) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,071 shares of the company’s stock after selling 959 shares during the quarter. Pacific Global Investment Management Co.’s holdings in Penske Automotive Group were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Belpointe Asset Management LLC purchased a new position in shares of Penske Automotive Group in the second quarter worth $678,000. US Bancorp DE raised its stake in Penske Automotive Group by 16.6% in the second quarter. US Bancorp DE now owns 2,295 shares of the company’s stock worth $240,000 after buying an additional 326 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Penske Automotive Group by 153.4% during the 2nd quarter. Lazard Asset Management LLC now owns 299 shares of the company’s stock valued at $31,000 after buying an additional 181 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Penske Automotive Group by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,615 shares of the company’s stock valued at $1,216,000 after acquiring an additional 261 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Penske Automotive Group during the first quarter worth about $431,000. 32.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAG has been the topic of a number of recent research reports. StockNews.com cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Penske Automotive Group from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 6th.

Penske Automotive Group Trading Down 2.1 %

Shares of Penske Automotive Group stock traded down $2.57 during trading on Friday, hitting $118.72. The stock had a trading volume of 7,708 shares, compared to its average volume of 369,052. Penske Automotive Group, Inc. has a 12 month low of $88.58 and a 12 month high of $131.55. The firm’s fifty day simple moving average is $119.84 and its 200-day simple moving average is $112.99. The stock has a market cap of $8.47 billion, a PE ratio of 6.63, a PEG ratio of 1.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.98 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAGGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $4.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.38 by $0.23. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.79 billion. Penske Automotive Group had a return on equity of 33.86% and a net margin of 5.14%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.46 EPS. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 18.35 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Thursday, November 10th were given a dividend of $0.57 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.53. The ex-dividend date was Wednesday, November 9th. This represents a $2.28 dividend on an annualized basis and a yield of 1.92%. Penske Automotive Group’s dividend payout ratio is presently 12.47%.

Penske Automotive Group Company Profile

(Get Rating)

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.

Further Reading

Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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