Campbell & CO Investment Adviser LLC lowered its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 19.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,952 shares of the company’s stock after selling 1,900 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Penske Automotive Group were worth $472,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ceredex Value Advisors LLC acquired a new stake in shares of Penske Automotive Group during the 4th quarter worth approximately $15,336,000. BP PLC acquired a new stake in shares of Penske Automotive Group during the 3rd quarter worth approximately $6,645,000. AQR Capital Management LLC grew its holdings in shares of Penske Automotive Group by 18.5% during the 3rd quarter. AQR Capital Management LLC now owns 674,852 shares of the company’s stock worth $32,163,000 after purchasing an additional 105,578 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Penske Automotive Group by 7.0% during the 4th quarter. BlackRock Inc. now owns 1,436,161 shares of the company’s stock worth $85,294,000 after purchasing an additional 93,614 shares in the last quarter. Finally, AXA S.A. acquired a new stake in shares of Penske Automotive Group during the 3rd quarter worth approximately $3,975,000. 38.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PAG opened at $66.38 on Tuesday. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.34 and a beta of 1.61. Penske Automotive Group, Inc. has a 52-week low of $19.99 and a 52-week high of $67.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.28 and a current ratio of 1.06. The stock has a fifty day moving average price of $63.89 and a two-hundred day moving average price of $55.86.
Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, February 9th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.38. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. Penske Automotive Group had a return on equity of 15.09% and a net margin of 2.17%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, research analysts predict that Penske Automotive Group, Inc. will post 6.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Wednesday, February 10th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, February 9th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.59%. Penske Automotive Group’s payout ratio is 32.58%.
Several equities analysts recently commented on PAG shares. Truist raised their target price on Penske Automotive Group from $65.00 to $75.00 in a research report on Friday, January 15th. Stephens raised their target price on Penske Automotive Group from $70.00 to $78.00 in a research report on Thursday, February 11th. Bank of America raised their target price on Penske Automotive Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 17th. Morgan Stanley raised their target price on Penske Automotive Group from $49.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, December 7th. Finally, Zacks Investment Research downgraded Penske Automotive Group from a “strong-buy” rating to a “hold” rating and set a $59.00 target price for the company. in a research report on Wednesday, December 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Penske Automotive Group has an average rating of “Buy” and a consensus target price of $64.80.
About Penske Automotive Group
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.
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