Anchyra Partners LLC Purchases Shares of 4,444 Penske Automotive Group, Inc. $PAG

Anchyra Partners LLC acquired a new stake in Penske Automotive Group, Inc. (NYSE:PAG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,444 shares of the company’s stock, valued at approximately $703,000.

A number of other hedge funds have also recently made changes to their positions in PAG. Pictet Asset Management Holding SA grew its holdings in Penske Automotive Group by 12.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,912 shares of the company’s stock worth $461,000 after buying an additional 312 shares in the last quarter. Quent Capital LLC grew its stake in shares of Penske Automotive Group by 113.8% in the 4th quarter. Quent Capital LLC now owns 3,414 shares of the company’s stock worth $540,000 after acquiring an additional 1,817 shares in the last quarter. Quent Long Short Global Small Cap Fund LP purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $255,000. M&T Bank Corp lifted its position in shares of Penske Automotive Group by 3,302.9% during the fourth quarter. M&T Bank Corp now owns 64,995 shares of the company’s stock valued at $10,288,000 after purchasing an additional 63,085 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Penske Automotive Group by 8.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the company’s stock worth $976,000 after purchasing an additional 494 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings lowered shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Citigroup decreased 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. Barclays cut their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. decreased their target price on Penske Automotive Group from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average target price of $180.43.

Penske Automotive Group Stock Up 0.2%

PAG stock opened at $160.76 on Monday. The stock has a fifty day moving average of $154.61 and a 200-day moving average of $160.36. Penske Automotive Group, Inc. has a fifty-two week low of $140.12 and a fifty-two week high of $189.51. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.99.

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

Penske Automotive Group Increases Dividend

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

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.