Holocene Advisors LP Has $1.51 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Holocene Advisors LP decreased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 58.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,284 shares of the company's stock after selling 13,137 shares during the quarter. Holocene Advisors LP's holdings in Penske Automotive Group were worth $1,508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Penske Automotive Group in the 2nd quarter valued at approximately $1,516,000. Manning & Napier Advisors LLC bought a new stake in shares of Penske Automotive Group during the second quarter worth $3,742,000. Cerity Partners LLC raised its holdings in shares of Penske Automotive Group by 176.1% during the third quarter. Cerity Partners LLC now owns 13,333 shares of the company's stock worth $2,166,000 after acquiring an additional 8,504 shares during the period. Aristeia Capital L.L.C. bought a new stake in Penske Automotive Group in the 2nd quarter valued at $626,000. Finally, Millennium Management LLC boosted its stake in Penske Automotive Group by 9.1% in the 2nd quarter. Millennium Management LLC now owns 126,278 shares of the company's stock worth $18,818,000 after purchasing an additional 10,522 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

Analysts Set New Price Targets

PAG has been the topic of several recent research reports. Stephens initiated coverage on 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. JPMorgan Chase & Co. lifted their target price on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley raised Penske Automotive Group from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th.

Penske Automotive Group Stock Up 0.1 %

Shares of NYSE PAG traded up $0.14 during mid-day trading on Friday, hitting $163.88. The company had a trading volume of 87,921 shares, compared to its average volume of 139,481. 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 firm has a 50-day simple moving average of $158.69 and a two-hundred day simple moving average of $157.22. The company has a market capitalization of $10.94 billion, a PE ratio of 12.56 and a beta of 1.18. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $179.72.

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 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 company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same quarter in the prior year, the business earned $3.90 earnings per share. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced 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 represents a $4.76 dividend on an annualized basis and a yield of 2.90%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group's payout ratio is presently 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.