Louisiana State Employees Retirement System Buys Shares of 5,300 Penske Automotive Group, Inc. $PAG

Louisiana State Employees Retirement System purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the first quarter, HoldingsChannel reports. The institutional investor purchased 5,300 shares of the company’s stock, valued at approximately $792,000.

Several other large investors have also recently bought and sold shares of PAG. Navalign LLC bought a new position in shares of Penske Automotive Group during the 4th quarter worth about $26,000. International Assets Investment Management LLC acquired a new stake in Penske Automotive Group during the fourth quarter worth about $30,000. Rothschild Investment LLC increased its stake in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after acquiring an additional 66 shares during the period. Acadian Asset Management LLC acquired a new position in Penske Automotive Group in the 1st quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC raised its holdings in Penske Automotive Group by 186.6% in the 4th quarter. Global Retirement Partners LLC now owns 321 shares of the company’s stock valued at $51,000 after acquiring an additional 209 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the completion of the sale, the chief financial officer directly owned 17,596 shares of the company’s stock, valued at approximately $3,022,992.80. The trade was a 7.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greg C. Smith sold 1,488 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $160.02, for a total transaction of $238,109.76. The disclosure for this sale is available in the SEC filing. Insiders own 52.90% of the company’s stock.

Penske Automotive Group Trading Up 3.0%

NYSE:PAG traded up $5.37 during trading hours on Tuesday, hitting $184.79. 2,475 shares of the stock were exchanged, compared to its average volume of 294,091. The company’s 50 day moving average is $172.04 and its two-hundred day moving average is $163.46. Penske Automotive Group, Inc. has a twelve month low of $140.12 and a twelve month high of $189.51. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $12.15 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.91 by $0.14. The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $3.66 EPS. On average, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.46 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were given a $1.42 dividend. The ex-dividend date was Tuesday, May 26th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 dividend on an annualized basis and a yield of 3.1%. Penske Automotive Group’s dividend payout ratio is 42.39%.

Wall Street Analysts Forecast Growth

PAG has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Penske Automotive Group in a report on Thursday, June 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday, May 7th. Stephens boosted their price target on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Barclays reduced their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Citigroup upped their target price on shares of Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Penske Automotive Group presently has an average rating of “Moderate Buy” and a consensus price target of $182.62.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.