New Amsterdam Partners LLC NY Grows Holdings in Penske Automotive Group, Inc. (PAG)

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New Amsterdam Partners LLC NY increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 58.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,130 shares of the company’s stock after purchasing an additional 33,855 shares during the quarter. New Amsterdam Partners LLC NY owned 0.11% of Penske Automotive Group worth $4,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Virginia Retirement Systems ET AL boosted its stake in shares of Penske Automotive Group by 38.3% in the third quarter. Virginia Retirement Systems ET AL now owns 45,100 shares of the company’s stock valued at $2,137,000 after purchasing an additional 12,500 shares during the period. Engineers Gate Manager LP boosted its stake in shares of Penske Automotive Group by 376.6% in the third quarter. Engineers Gate Manager LP now owns 39,084 shares of the company’s stock valued at $1,852,000 after purchasing an additional 30,884 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Penske Automotive Group by 18.9% in the third quarter. Victory Capital Management Inc. now owns 2,605,712 shares of the company’s stock valued at $123,485,000 after purchasing an additional 413,929 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Penske Automotive Group by 8.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 35,850 shares of the company’s stock valued at $1,699,000 after purchasing an additional 2,937 shares during the period. Finally, Trilogy Capital Inc. purchased a new position in shares of Penske Automotive Group in the third quarter valued at $198,000. Institutional investors and hedge funds own 42.38% of the company’s stock.

Several research analysts have recently weighed in on the stock. Guggenheim downgraded shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research note on Friday, September 21st. SunTrust Banks assumed coverage on shares of Penske Automotive Group in a research note on Friday, August 24th. They set a “buy” rating and a $60.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Penske Automotive Group from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. ValuEngine upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $57.60.

NYSE PAG opened at $44.89 on Wednesday. Penske Automotive Group, Inc. has a 12 month low of $41.74 and a 12 month high of $54.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.22 and a current ratio of 1.01. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.24 and a beta of 1.49.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, October 25th. The company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.04. Penske Automotive Group had a net margin of 3.09% and a return on equity of 17.76%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.86 billion. On average, research analysts expect that Penske Automotive Group, Inc. will post 5.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.30%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, November 8th. Penske Automotive Group’s dividend payout ratio is 33.41%.

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About Penske Automotive Group

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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