Penske Automotive Group, Inc. (NYSE:PAG) Stake Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 64.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,474 shares of the company’s stock after purchasing an additional 14,321 shares during the period. BNP Paribas Financial Markets owned 0.05% of Penske Automotive Group worth $5,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Penske Automotive Group by 5.1% during the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after acquiring an additional 88 shares during the period. Franklin Resources Inc. lifted its position in Penske Automotive Group by 65.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock valued at $1,906,000 after purchasing an additional 4,877 shares during the last quarter. GAMMA Investing LLC boosted its stake in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares during the period. Merit Financial Group LLC acquired a new position in Penske Automotive Group during the 4th quarter valued at about $287,000. Finally, Nisa Investment Advisors LLC grew its position in Penske Automotive Group by 18.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 25,916 shares of the company’s stock worth $3,951,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 0.4%

Shares of Penske Automotive Group stock opened at $166.23 on Wednesday. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $180.12. The firm has a market capitalization of $11.00 billion, a PE ratio of 12.09 and a beta of 0.90. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $152.50 and its 200-day moving average is $158.44.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.68 billion. During the same quarter in the previous year, the company earned $3.21 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.94%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group’s payout ratio is presently 34.37%.

Analyst Upgrades and Downgrades

PAG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Citigroup started coverage on shares of Penske Automotive Group in a report on Wednesday, April 23rd. They issued a “buy” rating and a $185.00 price objective for the company. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $140.00 price objective on shares of Penske Automotive Group in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Moderate Buy” and an average price target of $165.00.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

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.