Tudor Investment Corp ET AL Lowers Position in Penske Automotive Group, Inc. $PAG

Tudor Investment Corp ET AL lessened its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 38.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,523 shares of the company’s stock after selling 20,308 shares during the period. Tudor Investment Corp ET AL’s holdings in Penske Automotive Group were worth $5,656,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PAG. Goldman Sachs Group Inc. increased its holdings in Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after purchasing an additional 84,045 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Penske Automotive Group by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock valued at $9,918,000 after purchasing an additional 3,100 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Penske Automotive Group in the 1st quarter valued at approximately $42,000. EverSource Wealth Advisors LLC increased its holdings in Penske Automotive Group by 506.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after purchasing an additional 735 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in Penske Automotive Group by 47.0% in the 2nd quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after purchasing an additional 994 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays dropped their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday. Citigroup dropped their target price on shares of Penske Automotive Group from $200.00 to $193.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average price target of $181.14.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $153.48 on Thursday. The company has a fifty day simple moving average of $156.07 and a two-hundred day simple moving average of $161.65. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The company has a quick ratio of 0.22, a current ratio of 0.99 and a debt-to-equity ratio of 0.32. Penske Automotive Group, Inc. has a 52 week low of $138.24 and a 52 week high of $189.51.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.54 EPS. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.6%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group’s payout ratio is presently 41.48%.

Penske Automotive Group Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.