Invictus Private Wealth LLC Lowers Stock Position in Penske Automotive Group, Inc. $PAG

Invictus Private Wealth LLC lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 17.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,400 shares of the company’s stock after selling 303 shares during the quarter. Invictus Private Wealth LLC’s holdings in Penske Automotive Group were worth $241,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PAG. UMB Bank n.a. grew its position in Penske Automotive Group by 421.5% during the first quarter. UMB Bank n.a. now owns 339 shares of the company’s stock valued at $49,000 after buying an additional 274 shares during the period. GAMMA Investing LLC grew its position in Penske Automotive Group by 51.9% during the first quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock valued at $57,000 after buying an additional 136 shares during the period. SG Americas Securities LLC bought a new position in Penske Automotive Group during the first quarter valued at about $648,000. Fifth Third Bancorp grew its position in Penske Automotive Group by 31.0% during the first quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $76,000 after buying an additional 125 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Penske Automotive Group by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 56,405 shares of the company’s stock valued at $8,121,000 after buying an additional 638 shares during the period. Institutional investors own 77.08% of the company’s stock.

Insider Buying and Selling

In other news, Director Lisa Ann Davis sold 1,604 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 1,529 shares in the company, valued at approximately $276,351.46. This trade represents a 51.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michelle Hulgrave sold 1,100 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 18,922 shares of the company’s stock, valued at $3,454,211.10. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PAG. Weiss Ratings restated a “buy (b+)” rating on shares of Penske Automotive Group in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Penske Automotive Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, August 5th. Morgan Stanley lifted their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Bank of America lifted their target price on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Finally, Citigroup lifted their target price on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.33.

Penske Automotive Group Price Performance

PAG opened at $165.35 on Friday. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 11.51 and a beta of 0.88. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $178.91 and a 200-day moving average price of $168.59. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 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 company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.98 billion. During the same period last year, the business earned $3.61 earnings per share. Penske Automotive Group’s revenue was down .4% compared to the same quarter last year. Equities analysts expect 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 $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase 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 (DPR) is 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.