Xponance Inc. Has $435,000 Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Xponance Inc. trimmed its position in Penske Automotive Group, Inc. (NYSE:PAG) by 26.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,918 shares of the company’s stock after selling 1,023 shares during the period. Xponance Inc.’s holdings in Penske Automotive Group were worth $435,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after purchasing an additional 91 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Penske Automotive Group in the 2nd quarter valued at $69,000. WFA Asset Management Corp bought a new position in shares of Penske Automotive Group in the 1st quarter valued at $84,000. Blue Trust Inc. grew its holdings in Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in Penske Automotive Group by 35,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company’s stock worth $226,000 after purchasing an additional 1,404 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity

In related news, Director John Barr sold 716 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 51.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PAG has been the subject of several analyst reports. Bank of America increased their price objective 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. 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. Stephens initiated coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target on the stock. Finally, Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their target price for the stock 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 issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $175.40.

Penske Automotive Group Stock Performance

Shares of NYSE:PAG opened at $162.37 on Tuesday. Penske Automotive Group, Inc. has a 52 week low of $137.95 and a 52 week high of $179.72. The firm has a 50 day moving average of $161.86 and a 200 day moving average of $155.83. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 11.29 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, topping the consensus estimate of $3.39 by $0.22. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.41 EPS. On average, sell-side analysts predict 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. Investors of record on Thursday, August 15th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.64%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date was Thursday, August 15th. Penske Automotive Group’s dividend payout ratio (DPR) is 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.