Denali Advisors LLC Has $625,000 Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Denali Advisors LLC grew its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 45.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,856 shares of the company’s stock after buying an additional 1,205 shares during the period. Denali Advisors LLC’s holdings in Penske Automotive Group were worth $625,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Penske Automotive Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company’s stock worth $326,800,000 after buying an additional 5,399 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in Penske Automotive Group by 3.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock valued at $121,259,000 after purchasing an additional 27,055 shares during the period. Goldman Sachs Group Inc. grew its position in Penske Automotive Group by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 300,476 shares of the company’s stock worth $48,229,000 after purchasing an additional 18,310 shares during the last quarter. Norges Bank bought a new position in shares of Penske Automotive Group during the 4th quarter worth about $30,844,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Penske Automotive Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 142,246 shares of the company’s stock worth $22,832,000 after purchasing an additional 3,844 shares during the period. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Down 0.4 %

Shares of PAG stock opened at $146.06 on Thursday. The company has a market capitalization of $9.77 billion, a P/E ratio of 10.16 and a beta of 1.18. Penske Automotive Group, Inc. has a 12-month low of $137.95 and a 12-month high of $180.84. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $151.67 and a 200 day moving average price of $152.96.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.52 billion. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.31 EPS. Research analysts forecast that Penske Automotive Group, Inc. will post 13.39 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $3.84 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.87. Penske Automotive Group’s payout ratio is currently 26.70%.

Analysts Set New Price Targets

Separately, Bank of America increased their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Hold” and an average price target of $163.20.

About Penske Automotive Group

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