Gamco Investors INC. ET AL Reduces Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Gamco Investors INC. ET AL decreased its holdings in Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 432,445 shares of the company’s stock after selling 2,774 shares during the period. Penske Automotive Group makes up approximately 0.7% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 24th largest position. Gamco Investors INC. ET AL’s holdings in Penske Automotive Group were worth $69,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Penske Automotive Group by 91.2% in the 4th quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after acquiring an additional 165 shares during the last quarter. C M Bidwell & Associates Ltd. increased its position in Penske Automotive Group by 305.5% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company’s stock worth $173,000 after purchasing an additional 782 shares during the last quarter. NDVR Inc. purchased a new position in Penske Automotive Group during the fourth quarter worth about $203,000. Atria Wealth Solutions Inc. acquired a new position in Penske Automotive Group in the 3rd quarter valued at about $218,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Penske Automotive Group by 35,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,408 shares of the company’s stock valued at $226,000 after buying an additional 1,404 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Down 0.6 %

NYSE:PAG traded down $0.83 during trading hours on Thursday, reaching $148.05. 67,086 shares of the stock were exchanged, compared to its average volume of 192,722. Penske Automotive Group, Inc. has a twelve month low of $137.95 and a twelve month high of $180.84. The business has a 50-day moving average of $152.53 and a two-hundred day moving average of $153.45. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 10.27 and a beta of 1.19. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.

Penske Automotive Group (NYSE:PAGGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.35 by ($0.14). The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. Penske Automotive Group’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.31 earnings per share. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.37 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 20th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, May 17th. Penske Automotive Group’s dividend payout ratio is presently 26.70%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAG. 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. Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.20.

Get Our Latest Analysis on Penske Automotive Group

Penske Automotive Group Company 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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