Barclays PLC Lowers Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Barclays PLC reduced its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,734 shares of the company's stock after selling 10,764 shares during the quarter. Barclays PLC owned 0.12% of Penske Automotive Group worth $13,111,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in shares of Penske Automotive Group by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company's stock worth $316,000 after acquiring an additional 69 shares in the last quarter. Applied Capital LLC FL raised its holdings in Penske Automotive Group by 0.4% in the 3rd quarter. Applied Capital LLC FL now owns 21,176 shares of the company's stock worth $3,439,000 after purchasing an additional 77 shares during the period. Quantinno Capital Management LP boosted its position in Penske Automotive Group by 0.5% during the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company's stock worth $2,704,000 after purchasing an additional 82 shares in the last quarter. Arizona State Retirement System grew its holdings in Penske Automotive Group by 1.5% in the second quarter. Arizona State Retirement System now owns 5,626 shares of the company's stock valued at $838,000 after purchasing an additional 84 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of Penske Automotive Group by 5.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,708 shares of the company's stock valued at $277,000 after buying an additional 84 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

PAG stock traded up $1.01 during midday trading on Monday, reaching $164.27. The stock had a trading volume of 129,555 shares, compared to its average volume of 181,294. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The company's fifty day simple moving average is $159.34 and its 200 day simple moving average is $157.80. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 12.59 and a beta of 1.18.

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). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The business had revenue of $7.59 billion during the quarter, compared to analysts' expectations of $7.67 billion. During the same period in the prior year, the business posted $3.90 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders 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. This represents a $4.76 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group's payout ratio is currently 36.48%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday. They set a "buy" rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a report on Tuesday, September 10th. Morgan Stanley raised shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. Finally, 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 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Penske Automotive Group has an average rating of "Hold" and an average target price of $170.25.

Penske Automotive Group Profile

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.