Public Employees Retirement System of Ohio Purchases 60 Shares of Penske Automotive Group, Inc. $PAG

Public Employees Retirement System of Ohio lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,740 shares of the company’s stock after acquiring an additional 60 shares during the period. Public Employees Retirement System of Ohio’s holdings in Penske Automotive Group were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Penske Automotive Group during the 1st quarter worth approximately $42,000. UMB Bank n.a. lifted its holdings in shares of Penske Automotive Group by 421.5% during the 1st quarter. UMB Bank n.a. now owns 339 shares of the company’s stock worth $49,000 after acquiring an additional 274 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Penske Automotive Group by 51.9% during the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock worth $57,000 after acquiring an additional 136 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Penske Automotive Group by 353.0% during the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 353 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Penske Automotive Group by 31.0% during the 1st quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock worth $76,000 after acquiring an additional 125 shares during the period. Institutional investors own 77.08% of the company’s stock.

Insider Buying and Selling at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 1,100 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa Ann Davis sold 1,604 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the transaction, the director directly owned 1,529 shares in the company, valued at approximately $276,351.46. This represents 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.

Analyst Ratings Changes

PAG has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target 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 reiterated an “equal weight” rating and set a $140.00 price objective on shares of Penske Automotive Group in a research report on Wednesday, June 11th. Bank of America upped their price objective on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Benchmark upped their price objective 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. Finally, JPMorgan Chase & Co. upgraded shares of Penske Automotive Group from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $155.00 to $175.00 in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and an average price target of $184.33.

Penske Automotive Group Trading Down 0.4%

Shares of NYSE PAG opened at $174.17 on Friday. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $189.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.21 and a current ratio of 0.90. The firm has a 50 day moving average price of $178.90 and a two-hundred day moving average price of $168.13. The stock has a market cap of $11.50 billion, a P/E ratio of 12.12 and a beta of 0.88.

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

Penske Automotive Group Increases Dividend

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

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.