Invictus Private Wealth LLC Sells 181 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Invictus Private Wealth LLC decreased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 8.0% during the third quarter, HoldingsChannel.com reports. The fund owned 2,077 shares of the company’s stock after selling 181 shares during the quarter. Invictus Private Wealth LLC’s holdings in Penske Automotive Group were worth $337,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Gabelli Funds LLC increased its stake in Penske Automotive Group by 6.2% in the 1st quarter. Gabelli Funds LLC now owns 85,500 shares of the company’s stock worth $13,850,000 after acquiring an additional 5,000 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Penske Automotive Group by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,466 shares of the company’s stock worth $4,935,000 after purchasing an additional 4,057 shares during the period. OFI Invest Asset Management purchased a new position in shares of Penske Automotive Group in the 2nd quarter worth approximately $1,516,000. Manning & Napier Advisors LLC purchased a new position in shares of Penske Automotive Group in the 2nd quarter worth approximately $3,742,000. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Penske Automotive Group in the 2nd quarter worth approximately $626,000. Institutional investors own 77.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PAG. Stephens began coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price for the company. Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th.

Penske Automotive Group Price Performance

PAG opened at $154.80 on Wednesday. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72. The stock has a market cap of $10.34 billion, a P/E ratio of 11.86 and a beta of 1.17. The business has a fifty day moving average of $157.22 and a 200 day moving average of $155.90. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last issued 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). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same quarter in the prior year, the company posted $3.90 earnings per share. Penske Automotive Group’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.72 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 3.07%. This is a positive change 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 payout ratio is presently 32.80%.

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.