Savant Capital LLC Grows Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Savant Capital LLC raised its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 232.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,182 shares of the company's stock after buying an additional 3,622 shares during the quarter. Savant Capital LLC's holdings in Penske Automotive Group were worth $772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Howard Capital Management Inc. bought a new position in Penske Automotive Group during the second quarter worth $367,000. Arizona State Retirement System raised its holdings in shares of Penske Automotive Group by 1.5% during 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. Versor Investments LP bought a new position in shares of Penske Automotive Group during the 2nd quarter worth about $542,000. CIBC Asset Management Inc acquired a new stake in shares of Penske Automotive Group in the 2nd quarter valued at about $280,000. Finally, Nilsine Partners LLC grew its stake in shares of Penske Automotive Group by 1.6% in the 2nd quarter. Nilsine Partners LLC now owns 15,484 shares of the company's stock valued at $2,307,000 after buying an additional 245 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Price Performance

PAG traded up $0.82 during midday trading on Thursday, hitting $149.27. The stock had a trading volume of 157,232 shares, compared to its average volume of 192,119. The business has a fifty day moving average of $160.39 and a 200 day moving average of $155.34. Penske Automotive Group, Inc. has a 1 year low of $137.95 and a 1 year high of $179.72. The company has a market cap of $9.98 billion, a P/E ratio of 10.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, topping analysts' consensus estimates of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. During the same period last year, the company earned $4.41 EPS. The business's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Penske Automotive Group, Inc. will post 13.83 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 Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.07 per share. This is a boost from Penske Automotive Group's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.28 dividend on an annualized basis and a yield of 2.87%. Penske Automotive Group's payout ratio is presently 29.76%.

Wall Street Analysts Forecast Growth

PAG has been the topic of several recent research reports. Stephens assumed coverage on Penske Automotive Group in a report on Thursday. They issued an "equal weight" rating and a $161.00 price target on the stock. Bank of America lifted their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Finally, 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 research report on Tuesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Penske Automotive Group currently has a consensus rating of "Hold" and an average price target of $162.40.

Insider Activity at Penske Automotive Group

In other news, Director John Barr sold 716 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total value of $122,228.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 51.70% of the stock is owned by insiders.

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.