Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Symmetry Partners LLC

Symmetry Partners LLC decreased its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 1.6% in the 1st quarter, HoldingsChannel reports. The firm owned 10,119 shares of the company’s stock after selling 169 shares during the quarter. Symmetry Partners LLC’s holdings in Penske Automotive Group were worth $1,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after acquiring an additional 165 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its stake in Penske Automotive Group by 305.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company’s stock worth $173,000 after acquiring an additional 782 shares during the last quarter. NDVR Inc. acquired a new stake in Penske Automotive Group during the fourth quarter worth approximately $203,000. Atria Wealth Solutions Inc. acquired a new stake in Penske Automotive Group during the third quarter worth approximately $218,000. Finally, TFO Wealth Partners LLC raised its holdings in Penske Automotive Group by 35,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company’s stock worth $226,000 after purchasing an additional 1,404 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PAG shares. Morgan Stanley raised their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America lifted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $163.20.

Penske Automotive Group Stock Performance

NYSE:PAG traded down $0.39 during midday trading on Tuesday, reaching $147.12. The stock had a trading volume of 105,349 shares, compared to its average volume of 192,403. The firm has a fifty day simple moving average of $152.16 and a two-hundred day simple moving average of $153.41. Penske Automotive Group, Inc. has a 12-month low of $137.95 and a 12-month high of $180.84. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The stock has a market cap of $9.84 billion, a P/E ratio of 10.26 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the business earned $4.31 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.37 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were given a dividend of $0.96 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, May 17th. Penske Automotive Group’s payout ratio is presently 26.70%.

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.