Y Intercept Hong Kong Ltd Has $2.02 Million Position in Penske Automotive Group, Inc. (NYSE:PAG)

Y Intercept Hong Kong Ltd lifted its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 191.4% during the third quarter, HoldingsChannel reports. The fund owned 12,413 shares of the company’s stock after purchasing an additional 8,153 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Penske Automotive Group were worth $2,016,000 as of its most recent SEC filing.

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

Penske Automotive Group Stock Performance

NYSE:PAG opened at $163.83 on Wednesday. The firm has a market capitalization of $10.94 billion, a PE ratio of 12.55 and a beta of 1.18. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $158.76 and its 200 day simple moving average is $157.42.

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

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a $1.19 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group’s payout ratio is currently 36.48%.

Wall Street Analysts Forecast Growth

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

About Penske Automotive Group

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.