2,152 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP bought a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,152 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Penske Automotive Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,246 shares of the company’s stock worth $22,832,000 after acquiring an additional 3,844 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Penske Automotive Group by 119.7% during the 4th quarter. BNP Paribas Financial Markets now owns 39,855 shares of the company’s stock valued at $6,397,000 after purchasing an additional 21,712 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Penske Automotive Group by 78.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,948 shares of the company’s stock valued at $634,000 after purchasing an additional 1,733 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Penske Automotive Group by 153.0% in the 4th quarter. Brown Advisory Inc. now owns 3,307 shares of the company’s stock worth $531,000 after purchasing an additional 2,000 shares during the period. Finally, Norges Bank purchased a new position in shares of Penske Automotive Group in the fourth quarter worth approximately $30,844,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $152.21 on Friday. The stock has a market cap of $10.16 billion, a PE ratio of 10.58 and a beta of 1.16. Penske Automotive Group, Inc. has a 1 year low of $137.95 and a 1 year high of $179.72. The firm has a fifty day moving average price of $160.63 and a 200-day moving average price of $155.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same quarter in the prior year, the business posted $4.41 EPS. Penske Automotive Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Penske Automotive Group, Inc. will post 13.79 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 2.81%. Penske Automotive Group’s payout ratio is currently 29.76%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAG. Stephens assumed coverage on shares of Penske Automotive Group in a report on Thursday. They set an “equal weight” rating and a $161.00 target price for the company. JPMorgan Chase & Co. upped their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 10th. Finally, Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $162.40.

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.