Susquehanna Fundamental Investments LLC Acquires 20,896 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Susquehanna Fundamental Investments LLC raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 720.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,796 shares of the company’s stock after buying an additional 20,896 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Penske Automotive Group were worth $3,546,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Penske Automotive Group by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock worth $62,280,000 after purchasing an additional 99,164 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Penske Automotive Group by 3.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock worth $121,259,000 after buying an additional 27,055 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Penske Automotive Group during the 2nd quarter valued at about $3,742,000. Occudo Quantitative Strategies LP grew its stake in shares of Penske Automotive Group by 321.8% during the 4th quarter. Occudo Quantitative Strategies LP now owns 26,675 shares of the company’s stock valued at $4,282,000 after acquiring an additional 20,351 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Penske Automotive Group by 6.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 300,476 shares of the company’s stock valued at $48,229,000 after acquiring an additional 18,310 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Performance

PAG opened at $162.87 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 11.33 and a beta of 1.16. The company has a fifty day moving average of $161.86 and a 200 day moving average of $155.83. Penske Automotive Group, Inc. has a fifty-two week low of $137.95 and a fifty-two week high of $179.72.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.59 billion. During the same period in the previous year, the firm posted $4.41 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a dividend of $1.07 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, August 15th. Penske Automotive Group’s dividend payout ratio is currently 29.76%.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 716 shares of the company’s stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. 51.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. Stephens initiated coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price on the stock. Bank of America increased their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $175.40.

Penske Automotive Group Company Profile

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.