Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by Morgan Stanley


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Morgan Stanley boosted its position in Penske Automotive Group, Inc. (NYSE:PAG) by 47.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 726,570 shares of the company’s stock after purchasing an additional 235,248 shares during the quarter. Morgan Stanley owned about 0.90% of Penske Automotive Group worth $43,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PAG. FMR LLC raised its stake in Penske Automotive Group by 8.6% in the 1st quarter. FMR LLC now owns 81,243 shares of the company’s stock valued at $3,628,000 after purchasing an additional 6,436 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Penske Automotive Group by 327.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,294 shares of the company’s stock valued at $3,158,000 after purchasing an additional 50,768 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Penske Automotive Group by 296.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 9,753 shares of the company’s stock valued at $166,000 after acquiring an additional 7,296 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Penske Automotive Group by 17.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 53,808 shares of the company’s stock valued at $2,564,000 after acquiring an additional 8,017 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Penske Automotive Group by 18.5% during the 3rd quarter. AQR Capital Management LLC now owns 674,852 shares of the company’s stock valued at $32,163,000 after acquiring an additional 105,578 shares during the last quarter. 38.14% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the stock. Stephens upped their price objective on shares of Penske Automotive Group from $70.00 to $78.00 in a research note on Thursday, February 11th. Morgan Stanley upped their price objective on shares of Penske Automotive Group from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Zacks Investment Research downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “hold” rating and set a $59.00 price objective for the company. in a research note on Wednesday, December 23rd. Finally, Truist increased their target price on shares of Penske Automotive Group from $65.00 to $75.00 in a research report on Friday, January 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Penske Automotive Group currently has an average rating of “Buy” and an average target price of $65.20.

NYSE PAG opened at $80.75 on Thursday. The stock has a market cap of $6.49 billion, a PE ratio of 14.63, a P/E/G ratio of 1.34 and a beta of 1.61. Penske Automotive Group, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $85.56. The business has a 50 day moving average price of $76.61 and a two-hundred day moving average price of $62.47. The company has a quick ratio of 0.28, a current ratio of 1.06 and a debt-to-equity ratio of 0.72.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, February 9th. The company reported $2.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.38. The company had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Penske Automotive Group had a return on equity of 15.09% and a net margin of 2.17%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 6.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Wednesday, February 10th were paid a dividend of $0.43 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, February 9th. Penske Automotive Group’s dividend payout ratio is 32.58%.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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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