Sei Investments Co. Boosts Position in Penske Automotive Group, Inc. (NYSE:PAG)

Sei Investments Co. lifted its position in Penske Automotive Group, Inc. (NYSE:PAG) by 11.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 49,975 shares of the company’s stock after purchasing an additional 5,098 shares during the period. Sei Investments Co.’s holdings in Penske Automotive Group were worth $7,449,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PAG. Fifth Third Bancorp increased its holdings in Penske Automotive Group by 32.2% during the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after acquiring an additional 91 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Penske Automotive Group during the 2nd quarter valued at $69,000. WFA Asset Management Corp bought a new position in shares of Penske Automotive Group in the first quarter worth $84,000. Blue Trust Inc. raised its position in shares of Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after buying an additional 113 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in Penske Automotive Group by 35,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company’s stock valued at $226,000 after buying an additional 1,404 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John Barr sold 716 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PAG shares. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. Stephens assumed coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of 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 raised their price objective 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Penske Automotive Group has a consensus rating of “Hold” and a consensus price target of $175.40.

Penske Automotive Group Stock Up 0.6 %

Shares of PAG opened at $162.87 on Monday. Penske Automotive Group, Inc. has a 1 year low of $137.95 and a 1 year high of $179.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22. The stock has a 50 day simple moving average of $161.86 and a two-hundred day simple moving average of $155.83. The firm has a market cap of $10.87 billion, a P/E ratio of 11.33 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.39 by $0.22. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.41 EPS. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.28 annualized dividend and a dividend yield of 2.63%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s payout ratio is currently 29.76%.

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.