Applied Capital LLC FL Increases Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Applied Capital LLC FL boosted its position in Penske Automotive Group, Inc. (NYSE:PAG) by 3.0% during the first quarter, HoldingsChannel.com reports. The fund owned 18,796 shares of the company’s stock after buying an additional 545 shares during the quarter. Penske Automotive Group makes up 2.5% of Applied Capital LLC FL’s portfolio, making the stock its 10th biggest position. Applied Capital LLC FL’s holdings in Penske Automotive Group were worth $3,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its stake in Penske Automotive Group by 4.0% in the fourth quarter. Apollon Wealth Management LLC now owns 1,785 shares of the company’s stock valued at $287,000 after acquiring an additional 68 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Penske Automotive Group by 1.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock valued at $672,000 after buying an additional 73 shares in the last quarter. Alaska Permanent Fund Corp boosted its position in Penske Automotive Group by 0.5% in the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock valued at $2,516,000 after buying an additional 75 shares in the last quarter. SkyOak Wealth LLC boosted its position in Penske Automotive Group by 3.2% in the fourth quarter. SkyOak Wealth LLC now owns 2,550 shares of the company’s stock valued at $409,000 after buying an additional 80 shares in the last quarter. Finally, Quent Capital LLC boosted its position in Penske Automotive Group by 5.5% in the fourth quarter. Quent Capital LLC now owns 1,830 shares of the company’s stock valued at $294,000 after buying an additional 96 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their target price on shares of 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 research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $163.20.

Penske Automotive Group Trading Up 0.0 %

PAG stock traded up $0.01 during midday trading on Tuesday, hitting $147.13. The stock had a trading volume of 89,506 shares, compared to its average volume of 195,414. Penske Automotive Group, Inc. has a 1-year low of $137.95 and a 1-year high of $180.84. The firm has a market cap of $9.84 billion, a P/E ratio of 10.23 and a beta of 1.18. The business has a fifty day moving average price of $151.93 and a two-hundred day moving average price of $153.12. The company has a current ratio of 0.98, a quick ratio of 0.23 and a debt-to-equity ratio of 0.30.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.52 billion. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.31 earnings per share. On average, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.39 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared 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 is a boost from Penske Automotive Group’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, May 17th. Penske Automotive Group’s dividend payout ratio is presently 26.70%.

About Penske Automotive Group

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.