Cynosure Group LLC Acquires Shares of 2,282 Penske Automotive Group, Inc. (NYSE:PAG)

Cynosure Group LLC bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,282 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fifth Third Bancorp raised its holdings in shares of Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after acquiring an additional 91 shares in the last quarter. Transamerica Financial Advisors Inc. raised its stake in shares of Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Penske Automotive Group during the 2nd quarter valued at about $69,000. Capital Performance Advisors LLP bought a new stake in shares of Penske Automotive Group in the 3rd quarter valued at approximately $112,000. Finally, Blue Trust Inc. grew its stake in shares of Penske Automotive Group by 17.5% in the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after buying an additional 113 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PAG shares. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th. Finally, Stephens started coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price on the stock.

Penske Automotive Group Trading Down 0.4 %

Shares of PAG stock opened at $166.78 on Friday. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The company has a market cap of $11.14 billion, a PE ratio of 12.78 and a beta of 1.17. 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’s 50 day moving average is $158.01 and its two-hundred day moving average is $156.85.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.90 earnings per share. Equities analysts predict that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, November 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is currently 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.