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

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

Other institutional investors also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in Penske Automotive Group by 7.6% in the 2nd quarter. Bank of Montreal Can now owns 3,662 shares of the company’s stock valued at $553,000 after purchasing an additional 258 shares during the last quarter. Sei Investments Co. boosted its position in Penske Automotive Group by 11.4% during the 2nd quarter. Sei Investments Co. now owns 49,975 shares of the company’s stock worth $7,449,000 after buying an additional 5,098 shares during the period. AE Wealth Management LLC bought a new stake in Penske Automotive Group in the second quarter valued at approximately $338,000. Burgundy Asset Management Ltd. grew its stake in Penske Automotive Group by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company’s stock worth $115,874,000 after purchasing an additional 13,968 shares during the period. Finally, XTX Topco Ltd bought a new stake in Penske Automotive Group in the 2nd quarter valued at about $709,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John Barr sold 716 shares of Penske Automotive Group 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 51.70% of the stock is owned by corporate insiders.

Penske Automotive Group Trading Down 0.3 %

Penske Automotive Group stock opened at $162.37 on Tuesday. 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 cap of $10.84 billion, a PE ratio of 11.29 and a beta of 1.16. The stock’s 50 day simple moving average is $161.86 and its two-hundred day simple moving average is $155.83. Penske Automotive Group, Inc. has a 12 month low of $137.95 and a 12 month high of $179.72.

Penske Automotive Group (NYSE:PAG) last released 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. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same period last year, the business posted $4.41 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts anticipate that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders 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 yield of 2.64%. Penske Automotive Group’s dividend payout ratio is 29.76%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PAG. Bank of America boosted their target price 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. raised their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. Finally, Stephens assumed coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective on the stock. One 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. According to MarketBeat.com, Penske Automotive Group has an average rating of “Hold” and an average target price of $175.40.

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.