Texas Permanent School Fund Corp Has $4.80 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Texas Permanent School Fund Corp boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 88.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,210 shares of the company's stock after purchasing an additional 15,151 shares during the quarter. Texas Permanent School Fund Corp's holdings in Penske Automotive Group were worth $4,800,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PAG. PNC Financial Services Group Inc. raised its holdings in Penske Automotive Group by 1.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company's stock worth $672,000 after buying an additional 73 shares during the period. 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 worth $838,000 after acquiring an additional 84 shares during the period. Fifth Third Bancorp raised its holdings in shares of Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company's stock worth $56,000 after acquiring an additional 91 shares during the period. State of Michigan Retirement System lifted its position in Penske Automotive Group by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 4,800 shares of the company's stock valued at $778,000 after acquiring an additional 100 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in Penske Automotive Group by 1.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company's stock worth $1,041,000 after purchasing an additional 102 shares during the period. Institutional investors own 77.08% of the company's stock.

Analyst Ratings Changes

PAG has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a report on Tuesday. Bank of America boosted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Finally, Stephens started coverage on shares of Penske Automotive Group in a research note on Thursday. They set an "equal weight" rating and a $161.00 price target for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Penske Automotive Group presently has a consensus rating of "Hold" and a consensus price target of $162.40.

Penske Automotive Group Stock Up 2.0 %

NYSE PAG traded up $2.94 during trading hours on Friday, hitting $152.21. 150,734 shares of the company traded hands, compared to its average volume of 148,966. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98. The business's 50-day moving average is $160.63 and its 200-day moving average is $155.31. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 10.58 and a beta of 1.16. Penske Automotive Group, Inc. has a twelve month low of $137.95 and a twelve month high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its earnings results 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. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.41 earnings per share. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.79 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a $1.07 dividend. This is an increase from Penske Automotive Group's previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, August 15th. Penske Automotive Group's dividend payout ratio (DPR) is 29.76%.

Insider Buying and Selling

In other Penske Automotive Group news, Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.70% of the stock is currently owned by corporate 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.