Cwm LLC Buys 7,315 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

CWM LLC grew its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 162.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,820 shares of the company's stock after buying an additional 7,315 shares during the quarter. CWM LLC's holdings in Penske Automotive Group were worth $1,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Penske Automotive Group in the fourth quarter worth about $579,000. Goldman Sachs Group Inc. grew its stake in shares of Penske Automotive Group by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 300,476 shares of the company's stock worth $48,229,000 after purchasing an additional 18,310 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Penske Automotive Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company's stock worth $326,800,000 after purchasing an additional 5,399 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Penske Automotive Group by 1.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company's stock worth $672,000 after purchasing an additional 73 shares during the last quarter. Finally, Alaska Permanent Fund Corp grew its stake in shares of Penske Automotive Group by 6.4% in the first quarter. Alaska Permanent Fund Corp now owns 16,672 shares of the company's stock worth $2,701,000 after purchasing an additional 997 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Insider Activity

In related news, Director John Barr sold 716 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 51.70% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on PAG. Bank of America raised their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Stephens began coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 price objective for the company. Morgan Stanley upgraded shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $175.40.

Penske Automotive Group Stock Up 0.0 %

Shares of PAG stock traded up $0.02 during trading hours on Tuesday, hitting $154.80. 167,109 shares of the company's stock traded hands, compared to its average volume of 187,806. The stock's fifty day simple moving average is $160.64 and its two-hundred day simple moving average is $155.79. Penske Automotive Group, Inc. has a 12-month low of $137.95 and a 12-month high of $179.72. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 11.56 and a beta of 1.16. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same period last year, the business earned $4.41 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. On average, analysts expect that Penske Automotive Group, Inc. will post 13.82 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.76%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, August 15th. Penske Automotive Group's dividend payout ratio (DPR) is presently 31.52%.

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.