Swiss National Bank boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,900 shares of the company’s stock after buying an additional 1,800 shares during the period. Swiss National Bank’s holdings in Penske Automotive Group were worth $3,153,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of PAG. The Manufacturers Life Insurance Company increased its stake in Penske Automotive Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock worth $110,000 after buying an additional 175 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Penske Automotive Group during the 4th quarter worth approximately $129,000. Commonwealth Equity Services Inc purchased a new stake in Penske Automotive Group during the 3rd quarter worth approximately $199,000. Jane Street Group LLC purchased a new stake in Penske Automotive Group during the 3rd quarter worth approximately $201,000. Finally, Stephens Inc. AR purchased a new stake in Penske Automotive Group during the 3rd quarter worth approximately $230,000. Institutional investors own 40.88% of the company’s stock.
Shares of Penske Automotive Group, Inc. (NYSE:PAG) opened at $46.91 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.22. The stock has a market capitalization of $3,936.77, a P/E ratio of 10.55, a PEG ratio of 1.15 and a beta of 1.52. Penske Automotive Group, Inc. has a 52-week low of $38.33 and a 52-week high of $54.83.
Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.27 billion. Penske Automotive Group had a return on equity of 17.67% and a net margin of 2.87%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. sell-side analysts predict that Penske Automotive Group, Inc. will post 5.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Monday, February 12th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 9th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.90%. Penske Automotive Group’s dividend payout ratio is 19.05%.
A number of research firms have recently issued reports on PAG. Zacks Investment Research upgraded Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, December 26th. Bank of America upped their price target on Penske Automotive Group from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Penske Automotive Group currently has a consensus rating of “Buy” and an average price target of $55.57.
About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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