11,116 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,116 shares of the company's stock, valued at approximately $1,805,000.

Other institutional investors have also recently made changes to their positions in the company. Cetera Advisors LLC bought a new stake in Penske Automotive Group in the first quarter worth $230,000. CWM LLC lifted its holdings in shares of Penske Automotive Group by 94.5% in the 2nd quarter. CWM LLC now owns 4,505 shares of the company's stock worth $671,000 after acquiring an additional 2,189 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Penske Automotive Group during the 2nd quarter worth about $328,000. Wealth Enhancement Advisory Services LLC grew its holdings in Penske Automotive Group by 51.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,422 shares of the company's stock valued at $361,000 after purchasing an additional 827 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company's stock valued at $123,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Up 0.1 %

PAG stock traded up $0.14 during mid-day trading on Friday, reaching $163.88. The company had a trading volume of 87,921 shares, compared to its average volume of 138,300. The company has a market capitalization of $10.94 billion, a PE ratio of 12.56 and a beta of 1.18. The firm has a 50 day moving average of $158.69 and a 200 day moving average of $157.25. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.02). The firm 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 revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.90 EPS. On average, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.07. This represents a $4.76 dividend on an annualized basis and a yield of 2.90%. Penske Automotive Group's dividend payout ratio is 36.48%.

Analysts Set New Price Targets

PAG has been the subject of several recent analyst reports. Morgan Stanley upgraded 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 report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 10th. Finally, Stephens initiated coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price objective for the company.

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.