Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,106 shares of the company’s stock after selling 507 shares during the period. Mutual of America Capital Management LLC’s holdings in Penske Automotive Group were worth $1,655,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised 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 period. International Assets Investment Management LLC bought a new position in Penske Automotive Group in the second quarter worth about $69,000. WFA Asset Management Corp bought a new position in Penske Automotive Group in the first quarter worth about $84,000. Blue Trust Inc. boosted its stake 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 period. Finally, TFO Wealth Partners LLC grew its holdings in shares of 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 purchasing an additional 1,404 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report 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 company an “underweight” rating in a report on Tuesday, September 10th. Stephens initiated coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective on the stock. Finally, Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $115.00 to $180.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $175.40.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 716 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of PAG opened at $160.99 on Thursday. Penske Automotive Group, Inc. has a 52-week low of $137.95 and a 52-week high of $179.72. The firm has a market capitalization of $10.75 billion, a PE ratio of 11.20 and a beta of 1.16. The firm has a 50-day moving average price of $161.65 and a 200 day moving average price of $155.68. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.22. The business had revenue of $7.70 billion for 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 business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $4.41 earnings per share. On average, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.79 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company 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. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date was Thursday, August 15th. This represents a $4.28 annualized dividend and a dividend yield of 2.66%. Penske Automotive Group’s dividend payout ratio is 29.76%.

Penske Automotive Group Company 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.