Susquehanna Fundamental Investments LLC Raises Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Susquehanna Fundamental Investments LLC increased its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 720.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,796 shares of the company's stock after purchasing an additional 20,896 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Penske Automotive Group were worth $3,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company's stock valued at $56,000 after purchasing an additional 91 shares during the period. International Assets Investment Management LLC purchased a new stake in Penske Automotive Group during the second quarter valued at about $69,000. WFA Asset Management Corp bought a new stake in shares of Penske Automotive Group in the 1st quarter valued at about $84,000. Blue Trust Inc. boosted 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 acquiring an additional 113 shares during the period. Finally, TFO Wealth Partners LLC grew its position in Penske Automotive Group by 35,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company's stock worth $226,000 after acquiring an additional 1,404 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley upgraded Penske Automotive Group from an "underweight" rating to an "overweight" rating and boosted their price objective for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens began coverage on Penske Automotive Group in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 target price on the stock. Bank of America increased their target price on 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. lifted their price target 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $175.40.

Insider Buying and Selling

In related news, Director John Barr sold 716 shares of the company's 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 filing with the SEC, which is accessible through this hyperlink. 51.70% of the stock is owned by company insiders.

Penske Automotive Group Stock Performance

NYSE:PAG traded down $0.65 during trading hours on Monday, reaching $162.22. The company had a trading volume of 80,862 shares, compared to its average volume of 191,231. The firm's 50 day moving average price is $161.86 and its 200-day moving average price is $155.83. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 11.29 and a beta of 1.16. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. Penske Automotive Group, Inc. has a 52 week low of $137.95 and a 52 week high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, beating analysts' consensus estimates of $3.39 by $0.22. The business had revenue of $7.70 billion for the quarter, compared to analysts' expectations of $7.59 billion. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $4.41 earnings per share. On average, analysts forecast that Penske Automotive Group, Inc. will post 13.83 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Thursday, August 15th. This is an increase from Penske Automotive Group's previous quarterly dividend of $0.96. Penske Automotive Group's payout ratio is 29.76%.

About Penske Automotive Group

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.