GSA Capital Partners LLP Has $984,000 Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

GSA Capital Partners LLP cut its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 25.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,059 shares of the company’s stock after selling 2,029 shares during the quarter. GSA Capital Partners LLP’s holdings in Penske Automotive Group were worth $984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAG. Fifth Third Bancorp boosted its stake in Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after acquiring an additional 91 shares in the last quarter. International Assets Investment Management LLC bought a new position in Penske Automotive Group in the second quarter worth approximately $69,000. Capital Performance Advisors LLP acquired a new stake in Penske Automotive Group in the third quarter valued at approximately $112,000. Blue Trust Inc. increased its holdings in shares of Penske Automotive Group by 17.5% during the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after acquiring an additional 113 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Penske Automotive Group during the third quarter worth approximately $209,000. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Stephens assumed coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target on the stock. Finally, Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th.

Penske Automotive Group Price Performance

PAG opened at $160.23 on Friday. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 12.28 and a beta of 1.17. The firm’s fifty day moving average price is $156.44 and its two-hundred day moving average price is $156.29.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.67 billion. During the same quarter last year, the firm posted $3.90 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that Penske Automotive Group, Inc. will post 13.72 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a $1.19 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a dividend yield of 2.97%. Penske Automotive Group’s dividend payout ratio is currently 32.80%.

Penske Automotive Group 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.