2 days Ago By Defense World Staff
American Century Companies Inc. trimmed its position in Penske Automotive Group, Inc. ( NYSE:PAG – Free Report ) by 5.
2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,706 shares of the company’s stock after selling 16,809 shares during the quarter. American Century Companies Inc.
owned 0.46% of Penske Automotive Group worth $46,003,000 at the end of the most recent quarter. Other hedge funds and other institutional investors have also modified their holdings of the company.
Norges Bank purchased a new position in shares of Penske Automotive Group in the 4th quarter valued at $30,844,000. Burgundy Asset Management Ltd. raised its position in Penske Automotive Group by 3.
7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock valued at $121,259,000 after purchasing an additional 27,055 shares during the period.
Manning & Napier Advisors LLC acquired a new position in shares of Penske Automotive Group during the second quarter worth about $3,742,000. Occudo Quantitative Strategies LP boosted its position in shares of Penske Automotive Group by 321.8% in the fourth quarter.
Occudo Quantitative Strategies LP now owns 26,675 shares of the company’s stock worth $4,282,000 after buying an additional 20,351 shares during the period. Finally, 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 valued at $48,229,000 after buying an additional 18,310 shares in the last quarter.
77.08% of the stock is owned by institutional investors and hedge funds. Insider Activity at Penske Automotive Group In other Penske Automotive Group news, Director John Barr sold 716 shares of the stock in a transaction on Thursday, August 1st.
The stock was 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 SEC, which is available through this link . Insiders own 51.70% of the company’s stock.
Penske Automotive Group Trading Up 2.5 % Penske Automotive Group ( NYSE:PAG – Get Free Report ) last issued its earnings results on Wednesday, July 31st. The company reported $3.
61 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.59 billion.
During the same period in the prior year, the company earned $4.41 earnings per share. The firm’s revenue was up 3.
1% compared to the same quarter last year. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.
79 EPS for the current fiscal year. Penske Automotive Group Increases Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a $1.
07 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96.
The ex-dividend date was Thursday, August 15th. This represents a $4.28 annualized dividend and a dividend yield of 2.
74%. Penske Automotive Group’s dividend payout ratio (DPR) is 29.76%.
Analyst Ratings Changes Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target 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. Bank of America boosted their target price on shares of 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, Stephens assumed coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th.
They issued an “equal weight” rating and a $161.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock.
Based on data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Hold” and an average price target of $162.40.
Read Our Latest Stock Report on Penske Automotive Group 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.
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