Aigen Investment Management LP Increases Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

by · The Markets Daily

Aigen Investment Management LP grew its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,125 shares of the company’s stock after acquiring an additional 326 shares during the quarter. Aigen Investment Management LP’s holdings in Penske Automotive Group were worth $995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PAG. Fifth Third Bancorp raised its position in Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after acquiring an additional 91 shares during the period. International Assets Investment Management LLC purchased a new position in Penske Automotive Group in the second quarter valued at approximately $69,000. Capital Performance Advisors LLP purchased a new stake in Penske Automotive Group in the third quarter worth $112,000. Blue Trust Inc. grew its stake in shares of Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares during the period. Finally, Brighton Jones LLC purchased a new stake in Penske Automotive Group during the third quarter valued at about $209,000. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAG has been the subject of a number of recent analyst reports. Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens began coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research report on Tuesday, September 10th.

Get Our Latest Stock Report on PAG

Penske Automotive Group Stock Up 0.1 %

Shares of Penske Automotive Group stock opened at $161.09 on Wednesday. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a 50-day moving average of $156.38 and a 200 day moving average of $156.18. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 12.34 and a beta of 1.17.

Penske Automotive Group (NYSE:PAG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.90 EPS. As a group, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.71 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.95%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 32.80%.

Penske Automotive Group Profile

(Free Report)

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.

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