Captrust Financial Advisors Purchases Shares of 3,228 Penske Automotive Group, Inc. (NYSE:PAG)

Captrust Financial Advisors acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,228 shares of the company's stock, valued at approximately $524,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Penske Automotive Group by 31.1% during the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company's stock worth $62,280,000 after acquiring an additional 99,164 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Penske Automotive Group by 12,674.5% during the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company's stock worth $9,606,000 after purchasing an additional 58,683 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Penske Automotive Group by 720.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company's stock worth $3,546,000 after purchasing an additional 20,896 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Penske Automotive Group by 88.8% in the second quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company's stock valued at $4,800,000 after purchasing an additional 15,151 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in shares of Penske Automotive Group by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company's stock valued at $115,874,000 after buying an additional 13,968 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PAG. Benchmark began coverage on Penske Automotive Group in a research note on Thursday. They set a "buy" rating on the stock. Morgan Stanley raised shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group has a consensus rating of "Hold" and a consensus target price of $170.25.

Penske Automotive Group Stock Performance

Penske Automotive Group stock traded up $1.45 during midday trading on Thursday, reaching $164.95. The stock had a trading volume of 151,490 shares, compared to its average volume of 181,748. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $11.01 billion, a PE ratio of 12.64 and a beta of 1.18. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The firm's 50-day moving average price is $159.06 and its 200 day moving average price is $157.51.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.02). The business had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $3.90 earnings per share. As a group, research analysts predict that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a dividend of $1.19 per share. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a yield of 2.89%. Penske Automotive Group's dividend payout ratio is 36.48%.

About Penske Automotive Group

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.