Keybank National Association OH Has $1.53 Million Position in Penske Automotive Group, Inc. (PAG)

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Keybank National Association OH increased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.4% in the 1st quarter, HoldingsChannel reports. The firm owned 34,325 shares of the company’s stock after purchasing an additional 800 shares during the period. Keybank National Association OH’s holdings in Penske Automotive Group were worth $1,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Chip Partners Inc. raised its holdings in Penske Automotive Group by 0.5% during the first quarter. Blue Chip Partners Inc. now owns 44,826 shares of the company’s stock worth $2,001,000 after purchasing an additional 225 shares in the last quarter. Occidental Asset Management LLC raised its holdings in Penske Automotive Group by 6.8% during the fourth quarter. Occidental Asset Management LLC now owns 7,345 shares of the company’s stock worth $296,000 after purchasing an additional 467 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Penske Automotive Group by 3.3% during the fourth quarter. Wedbush Securities Inc. now owns 14,877 shares of the company’s stock worth $600,000 after purchasing an additional 475 shares in the last quarter. Sageworth Trust Co purchased a new position in Penske Automotive Group during the first quarter worth about $27,000. Finally, Citigroup Inc. raised its holdings in Penske Automotive Group by 2.9% during the fourth quarter. Citigroup Inc. now owns 24,307 shares of the company’s stock worth $980,000 after purchasing an additional 677 shares in the last quarter. 43.57% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on PAG. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. ValuEngine raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley dropped their target price on shares of Penske Automotive Group from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, April 16th. Seaport Global Securities began coverage on shares of Penske Automotive Group in a report on Wednesday, February 13th. They issued a “buy” rating and a $61.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Penske Automotive Group in a report on Tuesday, February 19th. They issued a “neutral” rating and a $51.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $55.83.

In other news, Director John Barr sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $44.31, for a total value of $221,550.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at $797,580. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.60% of the stock is owned by corporate insiders.

Shares of Penske Automotive Group stock opened at $44.17 on Friday. Penske Automotive Group, Inc. has a 12-month low of $38.49 and a 12-month high of $53.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.22. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.83 and a beta of 1.36.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, April 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.03. Penske Automotive Group had a net margin of 2.05% and a return on equity of 17.38%. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Penske Automotive Group, Inc. will post 5.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.53%. Penske Automotive Group’s dividend payout ratio is currently 29.21%.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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