Cwm LLC Decreases Stake in Penske Automotive Group, Inc. $PAG

Cwm LLC cut its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,820 shares of the company’s stock after selling 3,349 shares during the period. Cwm LLC’s holdings in Penske Automotive Group were worth $2,029,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after purchasing an additional 456,611 shares in the last quarter. AQR Capital Management LLC increased its position in Penske Automotive Group by 6.6% in the third quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock worth $125,043,000 after purchasing an additional 44,749 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Penske Automotive Group by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after purchasing an additional 84,045 shares in the last quarter. Moran Wealth Management LLC lifted its position in Penske Automotive Group by 0.7% during the third quarter. Moran Wealth Management LLC now owns 152,898 shares of the company’s stock valued at $26,590,000 after purchasing an additional 988 shares during the last quarter. Finally, UBS Group AG lifted its position in Penske Automotive Group by 0.9% during the third quarter. UBS Group AG now owns 146,168 shares of the company’s stock valued at $25,420,000 after purchasing an additional 1,365 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.5%

Shares of PAG opened at $160.76 on Friday. The company’s fifty day simple moving average is $154.61 and its 200-day simple moving average is $160.48. The company has a market cap of $10.57 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.10 and a beta of 0.87. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. Penske Automotive Group, Inc. has a twelve month low of $140.12 and a twelve month high of $189.51.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.28). The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.62 billion. Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.Penske Automotive Group’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.54 earnings per share. As a group, analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.5%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 41.48%.

Analyst Ratings Changes

PAG has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Penske Automotive Group from $170.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, April 17th. Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Citigroup dropped their price target on Penske Automotive Group from $200.00 to $193.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Barclays reduced their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.43.

Penske Automotive Group Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.