Captrust Financial Advisors Decreases Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Captrust Financial Advisors lessened its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,971 shares of the company’s stock after selling 257 shares during the quarter. Captrust Financial Advisors’ holdings in Penske Automotive Group were worth $453,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in Penske Automotive Group in the 4th quarter valued at $40,000. Headlands Technologies LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $76,000. TD Waterhouse Canada Inc. increased its position in Penske Automotive Group by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company’s stock worth $81,000 after purchasing an additional 158 shares during the last quarter. KBC Group NV raised its stake in Penske Automotive Group by 33.5% during the fourth quarter. KBC Group NV now owns 749 shares of the company’s stock worth $114,000 after purchasing an additional 188 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Penske Automotive Group by 57.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,108 shares of the company’s stock worth $169,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Barr sold 1,529 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Up 0.4%

NYSE:PAG opened at $167.14 on Tuesday. 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 has a market capitalization of $11.06 billion, a price-to-earnings ratio of 12.16 and a beta of 0.90. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $180.12. The stock’s fifty day moving average is $152.67 and its two-hundred day moving average is $158.85.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results 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. The business had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 earnings per share. Research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group announced that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.22. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PAG shares. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Stephens restated an “equal weight” rating and issued a $140.00 target price on shares of Penske Automotive Group in a research report on Monday, May 5th. Finally, Citigroup increased their price target on Penske Automotive Group from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

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.