Farther Finance Advisors LLC Has $182,000 Holdings in Penske Automotive Group, Inc. $PAG

Farther Finance Advisors LLC grew its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 862.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,059 shares of the company’s stock after buying an additional 949 shares during the quarter. Farther Finance Advisors LLC’s holdings in Penske Automotive Group were worth $182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in Penske Automotive Group during the first quarter worth $42,000. UMB Bank n.a. boosted its holdings in Penske Automotive Group by 421.5% during the first quarter. UMB Bank n.a. now owns 339 shares of the company’s stock worth $49,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Penske Automotive Group by 51.9% during the first quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock worth $57,000 after purchasing an additional 136 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Penske Automotive Group by 353.0% during the first quarter. Brooklyn Investment Group now owns 453 shares of the company’s stock worth $65,000 after purchasing an additional 353 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Penske Automotive Group by 31.0% during the first quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock worth $76,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity

In other news, CFO Michelle Hulgrave sold 1,100 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total value of $200,805.00. Following the transaction, the chief financial officer directly owned 18,922 shares of the company’s stock, valued at $3,454,211.10. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lisa Ann Davis sold 1,604 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $180.74, for a total transaction of $289,906.96. Following the completion of the transaction, the director directly owned 1,529 shares in the company, valued at $276,351.46. The trade was a 51.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is owned by corporate insiders.

Penske Automotive Group Stock Performance

NYSE PAG opened at $176.70 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.21 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $178.84 and its two-hundred day moving average price is $167.66. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $189.51. The firm has a market capitalization of $11.67 billion, a P/E ratio of 12.30 and a beta of 0.88.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.22. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.61 earnings per share. As a group, research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.26. This represents a $5.28 annualized dividend and a dividend yield of 3.0%. Penske Automotive Group’s payout ratio is currently 36.74%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America increased their target price on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Morgan Stanley increased their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Stephens restated an “equal weight” rating and set a $140.00 target price on shares of Penske Automotive Group in a report on Wednesday, June 11th. Citigroup increased their target price on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, Benchmark upped their price target on shares of Penske Automotive Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Penske Automotive Group has an average rating of “Moderate Buy” and a consensus target price of $184.33.

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.