Bessemer Group Inc. Increases Position in Penske Automotive Group, Inc. (NYSE:PAG)

Bessemer Group Inc. lifted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 1,516.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,737 shares of the company’s stock after acquiring an additional 20,392 shares during the quarter. Bessemer Group Inc.’s holdings in Penske Automotive Group were worth $2,331,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PAG. New York State Teachers Retirement System grew its holdings in shares of Penske Automotive Group by 3.7% during the fourth quarter. New York State Teachers Retirement System now owns 2,800 shares of the company’s stock valued at $300,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP boosted its position in shares of Penske Automotive Group by 7.7% during the third quarter. Allworth Financial LP now owns 1,766 shares of the company’s stock worth $178,000 after buying an additional 126 shares during the period. Leuthold Group LLC boosted its position in shares of Penske Automotive Group by 0.3% during the third quarter. Leuthold Group LLC now owns 47,762 shares of the company’s stock worth $4,805,000 after buying an additional 132 shares during the period. Captrust Financial Advisors boosted its position in shares of Penske Automotive Group by 8.1% during the third quarter. Captrust Financial Advisors now owns 1,874 shares of the company’s stock worth $189,000 after buying an additional 140 shares during the period. Finally, People s United Financial Inc. boosted its position in shares of Penske Automotive Group by 4.8% during the third quarter. People s United Financial Inc. now owns 3,159 shares of the company’s stock worth $318,000 after buying an additional 144 shares during the period. 50.18% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on PAG. Zacks Investment Research downgraded Penske Automotive Group from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Thursday, March 10th. Morgan Stanley boosted their price objective on Penske Automotive Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 8th. Finally, StockNews.com downgraded Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Penske Automotive Group presently has a consensus rating of “Buy” and a consensus target price of $116.80.

PAG traded down $3.38 during trading on Thursday, reaching $96.85. The stock had a trading volume of 7,467 shares, compared to its average volume of 321,318. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 6.72, a price-to-earnings-growth ratio of 0.32 and a beta of 1.46. The company has a quick ratio of 0.22, a current ratio of 0.95 and a debt-to-equity ratio of 0.34. Penske Automotive Group, Inc. has a 1-year low of $72.35 and a 1-year high of $114.34. The stock has a 50 day moving average of $100.46 and a two-hundred day moving average of $102.62.

Penske Automotive Group (NYSE:PAG – Get Rating) last posted its quarterly earnings results on Wednesday, February 9th. The company reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.67 by $0.43. The company had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Penske Automotive Group had a return on equity of 32.03% and a net margin of 4.65%. During the same quarter in the prior year, the company earned $2.49 earnings per share. On average, research analysts forecast that Penske Automotive Group, Inc. will post 15.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Thursday, February 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, February 9th. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.46. Penske Automotive Group’s dividend payout ratio is currently 12.60%.

Penske Automotive Group Profile (Get Rating)

Penske Automotive Group, Inc operates as an international transportation services company. Which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.

Further Reading

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