Mercer Global Advisors Inc. ADV Has $767,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Mercer Global Advisors Inc. ADV reduced its holdings in Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,673 shares of the company’s stock after selling 120 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Penske Automotive Group were worth $767,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAG. JPMorgan Chase & Co. lifted its holdings in Penske Automotive Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock valued at $11,272,000 after buying an additional 2,842 shares during the period. Raymond James & Associates increased its stake in Penske Automotive Group by 9.7% in the first quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock valued at $3,039,000 after purchasing an additional 2,877 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Penske Automotive Group by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock valued at $28,864,000 after purchasing an additional 3,730 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Penske Automotive Group by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock valued at $784,000 after purchasing an additional 137 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Penske Automotive Group by 3.5% in the first quarter. Citigroup Inc. now owns 25,355 shares of the company’s stock valued at $2,376,000 after purchasing an additional 860 shares in the last quarter. 32.66% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Down 1.6 %

Shares of PAG stock opened at $139.55 on Friday. The firm has a fifty day moving average of $138.30 and a 200-day moving average of $130.61. The company has a quick ratio of 0.25, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Penske Automotive Group, Inc. has a 12-month low of $94.49 and a 12-month high of $155.36. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 7.73 and a beta of 1.22.

Penske Automotive Group (NYSE:PAG – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The company reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.28. Penske Automotive Group had a net margin of 4.65% and a return on equity of 31.14%. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $4.76 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 15.58 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 22nd will be given a dividend of $0.66 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, May 19th. This represents a $2.64 annualized dividend and a dividend yield of 1.89%. Penske Automotive Group’s dividend payout ratio is currently 13.51%.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $145.31, for a total value of $290,620.00. Following the completion of the transaction, the director now owns 3,712 shares of the company’s stock, valued at $539,390.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Penske Automotive Group news, Director Kimberly J. Mcwaters sold 8,524 shares of Penske Automotive Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $141.53, for a total value of $1,206,401.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Barr sold 2,000 shares of Penske Automotive Group stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $145.31, for a total transaction of $290,620.00. Following the completion of the sale, the director now owns 3,712 shares in the company, valued at $539,390.72. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on PAG shares. StockNews.com started coverage on shares of Penske Automotive Group in a research note on Thursday. They issued a “buy” rating for the company. JPMorgan Chase & Co. upped their target price on shares of Penske Automotive Group from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. Finally, Stephens upped their target price on shares of Penske Automotive Group from $140.00 to $155.00 in a research note on Thursday, February 9th.

Penske Automotive Group Company Profile

(Get Rating)

Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related parts and services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.