Cwm LLC Acquires 7,315 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Cwm LLC lifted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 162.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,820 shares of the company’s stock after purchasing an additional 7,315 shares during the period. Cwm LLC’s holdings in Penske Automotive Group were worth $1,920,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PAG. Fifth Third Bancorp grew its holdings in shares of 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 purchasing an additional 91 shares during the last quarter. International Assets Investment Management LLC bought a new position in Penske Automotive Group in the second quarter valued at about $69,000. WFA Asset Management Corp bought a new position in Penske Automotive Group in the first quarter valued at about $84,000. Blue Trust Inc. boosted its holdings in Penske Automotive Group by 17.5% in 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 during the last quarter. Finally, Cetera Advisors LLC bought a new position in Penske Automotive Group in the first quarter valued at about $230,000. Institutional investors own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

PAG has been the topic of several recent research reports. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. Bank of America raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Stephens initiated coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $175.40.

Penske Automotive Group Trading Down 0.3 %

NYSE:PAG opened at $154.78 on Tuesday. Penske Automotive Group, Inc. has a 1-year low of $137.95 and a 1-year high of $179.72. The business’s 50-day moving average price is $160.76 and its two-hundred day moving average price is $155.84. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 11.40 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, beating 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 analyst estimates of $7.59 billion. During the same quarter in the prior year, the firm posted $4.41 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.82 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s dividend payout ratio (DPR) is currently 31.52%.

Insider Transactions at Penske Automotive Group

In other news, Director John Barr sold 716 shares of the firm’s stock in a transaction dated 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 is accessible through this link. 51.70% of the stock is currently owned by insiders.

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.