Hamlin Capital Management LLC Makes New $20.20 Million Investment in Penske Automotive Group, Inc. $PAG

Hamlin Capital Management LLC bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 127,633 shares of the company’s stock, valued at approximately $20,203,000. Penske Automotive Group comprises 0.5% of Hamlin Capital Management LLC’s holdings, making the stock its 27th largest holding. Hamlin Capital Management LLC owned about 0.19% of Penske Automotive Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC grew its holdings in shares of Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after acquiring an additional 159 shares during the period. Root Financial Partners LLC bought a new position in Penske Automotive Group in the third quarter valued at about $33,000. Acadian Asset Management LLC purchased a new position in Penske Automotive Group in the first quarter worth about $42,000. Smartleaf Asset Management LLC boosted its position in Penske Automotive Group by 237.0% in the third quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock worth $54,000 after purchasing an additional 218 shares during the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Penske Automotive Group by 36.1% during the 3rd quarter. Clearstead Advisors LLC now owns 441 shares of the company’s stock valued at $77,000 after purchasing an additional 117 shares during the period. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Stock Down 2.6%

PAG stock opened at $140.51 on Friday. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51. The company has a quick ratio of 0.22, a current ratio of 0.99 and a debt-to-equity ratio of 0.32. The stock has a market cap of $9.24 billion, a P/E ratio of 10.41, a PEG ratio of 1.46 and a beta of 0.90. The business’s 50-day moving average price is $159.76 and its 200-day moving average price is $164.69.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.19 by ($0.28). Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.62 billion. During the same period in the prior year, the company posted $3.54 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Wednesday, February 25th were paid a dividend of $1.40 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date was Wednesday, February 25th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.0%. Penske Automotive Group’s dividend payout ratio is presently 41.48%.

Analysts Set New Price Targets

Several research firms have recently commented on PAG. Barclays upped their price target on shares of Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Bank of America assumed coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 target price for the company. Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.71.

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.