Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 225.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,230 shares of the company’s stock after buying an additional 20,246 shares during the period. Citigroup Inc.’s holdings in Penske Automotive Group were worth $4,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Penske Automotive Group by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock worth $11,272,000 after acquiring an additional 2,842 shares during the last quarter. Raymond James & Associates increased its position in shares of Penske Automotive Group by 9.7% during the 1st quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock worth $3,039,000 after purchasing an additional 2,877 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Penske Automotive Group by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock valued at $28,864,000 after buying an additional 3,730 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Penske Automotive Group by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock valued at $784,000 after buying an additional 137 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Penske Automotive Group during the first quarter worth about $108,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Penske Automotive Group Stock Up 0.9 %

Shares of PAG opened at $153.11 on Friday. The stock has a market capitalization of $10.26 billion, a PE ratio of 9.89 and a beta of 1.19. Penske Automotive Group, Inc. has a 1 year low of $128.53 and a 1 year high of $180.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.00. The company’s 50-day simple moving average is $151.50 and its 200-day simple moving average is $154.41.

Penske Automotive Group (NYSE:PAGGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.21). The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $4.21 EPS. Analysts forecast that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.79. Penske Automotive Group’s dividend payout ratio is presently 22.48%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lifted their price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $168.20.

Read Our Latest Stock Analysis on PAG

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the transaction, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Greg C. Smith sold 1,604 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Barr sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

Penske Automotive Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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