Yousif Capital Management LLC Cuts Stock Position in Penske Automotive Group, Inc. $PAG

Yousif Capital Management LLC cut its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,805 shares of the company’s stock after selling 149 shares during the period. Yousif Capital Management LLC’s holdings in Penske Automotive Group were worth $1,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PAG. GAMMA Investing LLC lifted its stake in Penske Automotive Group by 51.9% during the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock valued at $57,000 after acquiring an additional 136 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Penske Automotive Group by 9.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,367 shares of the company’s stock valued at $485,000 after acquiring an additional 295 shares during the period. Moran Wealth Management LLC lifted its stake in Penske Automotive Group by 65.4% during the 1st quarter. Moran Wealth Management LLC now owns 153,605 shares of the company’s stock valued at $22,116,000 after acquiring an additional 60,734 shares during the period. Pacific Global Investment Management Co. lifted its stake in Penske Automotive Group by 1.1% during the 1st quarter. Pacific Global Investment Management Co. now owns 11,953 shares of the company’s stock valued at $1,721,000 after acquiring an additional 135 shares during the period. Finally, Highland Capital Management LLC lifted its stake in Penske Automotive Group by 22.5% during the 1st quarter. Highland Capital Management LLC now owns 1,928 shares of the company’s stock valued at $278,000 after acquiring an additional 354 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark boosted their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Morgan Stanley boosted their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “buy (b+)” rating on shares of Penske Automotive Group in a research report on Wednesday, October 8th. Finally, Citigroup upped their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.17.

Insider Transactions at Penske Automotive Group

In related news, Director Lisa Ann Davis sold 1,604 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $180.74, for a total value of $289,906.96. Following the completion of the sale, the director owned 1,529 shares of the company’s stock, valued at approximately $276,351.46. This represents a 51.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michelle Hulgrave sold 1,100 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total transaction of $200,805.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 52.40% of the company’s stock.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $171.62 on Wednesday. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $189.51. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 11.94 and a beta of 0.88. The company has a fifty day simple moving average of $178.18 and a 200-day simple moving average of $170.01. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.98 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Penske Automotive Group’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $1.38 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Penske Automotive Group’s payout ratio is currently 36.74%.

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.