Point72 Hong Kong Ltd Makes New $1 Million Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Point72 Hong Kong Ltd purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,180 shares of the company’s stock, valued at approximately $1,004,000.

Several other hedge funds have also recently modified their holdings of PAG. Fifth Third Bancorp increased its holdings in Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares during the period. True Wealth Design LLC increased its holdings in shares of Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares during the period. Transamerica Financial Advisors Inc. raised its position in shares of Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after acquiring an additional 453 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Penske Automotive Group during the 2nd quarter worth $69,000. Finally, Capital Performance Advisors LLP bought a new stake in Penske Automotive Group during the third quarter valued at about $112,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $166.54 on Monday. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $179.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a market cap of $11.12 billion, a PE ratio of 12.76 and a beta of 1.17. The business has a 50-day simple moving average of $158.27 and a two-hundred day simple moving average of $156.91.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). The company had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.90 EPS. As a group, equities analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 2.86%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Friday, November 15th. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

Wall Street Analyst Weigh In

PAG has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and increased their target price for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Finally, Stephens assumed coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target on the stock.

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.