6 days Ago By Defense World Staff
Alliancebernstein L.P. reduced its stake in Penske Automotive Group, Inc.
(NYSE:PAG – Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,408 shares of the company’s stock after selling 272 shares during the period.
Alliancebernstein L.P.’s holdings in Penske Automotive Group were worth $3,721,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Penske Automotive Group by 44.8% during the 4th quarter.
GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc.
bought a new stake in shares of Penske Automotive Group during the fourth quarter valued at about $40,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $94,000. KBC Group NV boosted its position in shares of Penske Automotive Group by 33.
5% in the fourth quarter. KBC Group NV now owns 749 shares of the company’s stock valued at $114,000 after acquiring an additional 188 shares during the period. Finally, Blue Trust Inc.
grew its stake in Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc.
now owns 1,221 shares of the company’s stock valued at $198,000 after acquiring an additional 269 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.
Penske Automotive Group Price PerformanceShares of NYSE:PAG opened at $151.31 on Tuesday. The company’s fifty day moving average price is $157.
37 and its 200-day moving average price is $158.37. The company has a debt-to-equity ratio of 0.
22, a current ratio of 0.91 and a quick ratio of 0.20.
The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 11.00 and a beta of 1.
03. Penske Automotive Group, Inc. has a one year low of $134.
05 and a one year high of $180.12. Penske Automotive Group (NYSE:PAG – Get Free Report) last released its earnings results on Thursday, February 13th.
The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.
17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.
02%. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.
56 billion. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.
86 earnings per share for the current fiscal year. Penske Automotive Group Increases DividendThe company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a dividend of $1.
22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.
23%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19.
The ex-dividend date was Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.
Analysts Set New Price TargetsPAG has been the topic of several recent analyst reports. Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th.
StockNews.com downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co.
reduced their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th.
One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $166.25.
Check Out Our Latest Stock Report on PAGInsiders Place Their BetsIn other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.
03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.
51. The trade was a 23.22 % decrease in their ownership of the stock.
The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Barr sold 1,529 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.
45, for a total transaction of $237,683.05. The disclosure for this sale can be found here.
51.70% of the stock is owned by insiders. Penske Automotive Group Company Profile (Free Report)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.Recommended StoriesFive stocks we like better than Penske Automotive GroupWhy Invest in 5G? How to Invest in 5G Stocks Why NVIDIA Stock Could Soar Despite Wall Street DowngradesStock Splits, Do They Really Impact Investors?Top 3 Large Cap Stocks Insiders Bought in Q1: Buy, Sell, or HoldHigh Dividend REITs: Are They an Ideal Way to Diversify?3 Hot New IPOs Defying the 2025 Market Slump.
