Keybank National Association OH Trims Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

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Keybank National Association OH lowered its position in Penske Automotive Group, Inc. (NYSE:PAG) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,600 shares of the company’s stock after selling 5,725 shares during the quarter. Keybank National Association OH’s holdings in Penske Automotive Group were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wedbush Securities Inc. lifted its position in shares of Penske Automotive Group by 5.1% in the second quarter. Wedbush Securities Inc. now owns 17,648 shares of the company’s stock valued at $835,000 after acquiring an additional 855 shares in the last quarter. Blue Chip Partners Inc. lifted its position in shares of Penske Automotive Group by 0.8% in the second quarter. Blue Chip Partners Inc. now owns 45,189 shares of the company’s stock valued at $2,137,000 after acquiring an additional 363 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Penske Automotive Group by 24.8% in the second quarter. Janus Henderson Group PLC now owns 10,632 shares of the company’s stock valued at $503,000 after acquiring an additional 2,111 shares in the last quarter. Signaturefd LLC lifted its position in shares of Penske Automotive Group by 90.5% in the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $42,000 after acquiring an additional 417 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Penske Automotive Group by 8.4% in the second quarter. Advisor Group Inc. now owns 8,748 shares of the company’s stock valued at $413,000 after acquiring an additional 677 shares in the last quarter. Institutional investors own 44.47% of the company’s stock.

Several equities analysts recently weighed in on PAG shares. Zacks Investment Research upgraded Penske Automotive Group from a “sell” rating to a “hold” rating and set a $46.00 target price on the stock in a research report on Tuesday, May 28th. ValuEngine downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th. Northcoast Research reiterated a “buy” rating on shares of Penske Automotive Group in a research report on Thursday, August 1st. Finally, Morgan Stanley increased their target price on Penske Automotive Group from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $54.17.

NYSE PAG traded up $1.12 during trading hours on Friday, hitting $42.87. 264,600 shares of the company’s stock were exchanged, compared to its average volume of 406,209. The business’s 50 day moving average is $45.72 and its 200-day moving average is $44.96. Penske Automotive Group, Inc. has a 12-month low of $38.49 and a 12-month high of $53.84. The firm has a market capitalization of $3.43 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.21 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, July 30th. The company reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.17). Penske Automotive Group had a return on equity of 16.56% and a net margin of 2.00%. The business had revenue of $5.76 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter last year, the company posted $1.58 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Penske Automotive Group, Inc. will post 5.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 9th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 8th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.73%. Penske Automotive Group’s dividend payout ratio is 29.96%.

In other Penske Automotive Group news, President Robert H. Kurnick, Jr. sold 8,579 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.05, for a total transaction of $395,062.95. Following the completion of the sale, the president now directly owns 98,509 shares in the company, valued at $4,536,339.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shane M. Spradlin sold 2,656 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.05, for a total value of $116,996.80. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.

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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