Point72 Hong Kong Ltd Takes $1 Million Position in Penske Automotive Group, Inc. (NYSE:PAG)

Point72 Hong Kong Ltd purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,180 shares of the company's stock, valued at approximately $1,004,000.

A number of other large investors have also made changes to their positions in PAG. AQR Capital Management LLC grew its position in shares of Penske Automotive Group by 31.1% in the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company's stock valued at $62,280,000 after purchasing an additional 99,164 shares in the last quarter. International Assets Investment Management LLC grew its position in Penske Automotive Group by 12,674.5% in the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company's stock worth $9,606,000 after acquiring an additional 58,683 shares during the period. Manning & Napier Advisors LLC purchased a new position in Penske Automotive Group in the second quarter worth approximately $3,742,000. Susquehanna Fundamental Investments LLC grew its position in Penske Automotive Group by 720.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company's stock worth $3,546,000 after acquiring an additional 20,896 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in Penske Automotive Group by 88.8% in the second quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company's stock worth $4,800,000 after acquiring an additional 15,151 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PAG shares. JPMorgan Chase & Co. increased their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 10th. Morgan Stanley upgraded Penske Automotive Group from an "underweight" rating to an "overweight" rating and increased their price objective for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th. Finally, Stephens started coverage on Penske Automotive Group in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 price objective for the company.

Penske Automotive Group Trading Up 0.6 %

NYSE:PAG traded up $1.04 during trading hours on Monday, reaching $167.58. 43,781 shares of the stock were exchanged, compared to its average volume of 183,460. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $158.27 and a two-hundred day moving average of $156.91. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $179.72. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 12.81 and a beta of 1.17.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.67 billion. During the same quarter last year, the company earned $3.90 earnings per share. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.84%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. Penske Automotive Group's dividend payout ratio is 36.48%.

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.