Franklin Resources Inc. Has $1.91 Million Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Franklin Resources Inc. increased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 65.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,316 shares of the company's stock after acquiring an additional 4,877 shares during the quarter. Franklin Resources Inc.'s holdings in Penske Automotive Group were worth $1,906,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PAG shares. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a report on Tuesday, September 10th. Stephens initiated coverage on Penske Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price objective for the company. Morgan Stanley upgraded shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. Finally, Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $170.25.

Penske Automotive Group Price Performance

PAG traded down $1.80 during trading on Friday, hitting $155.14. The company's stock had a trading volume of 135,144 shares, compared to its average volume of 182,256. 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 stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 11.89 and a beta of 1.18. The firm's 50 day moving average price is $159.70 and its two-hundred day moving average price is $158.06. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the prior year, the firm earned $3.90 earnings per share. The business's quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid 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 3.07%. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group's dividend payout ratio is 36.48%.

Penske Automotive Group Company 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.