Entropy Technologies LP Reduces Position in Penske Automotive Group, Inc. $PAG

Entropy Technologies LP cut its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 35.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,810 shares of the company’s stock after selling 2,684 shares during the period. Entropy Technologies LP’s holdings in Penske Automotive Group were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in shares of Penske Automotive Group by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock worth $234,914,000 after acquiring an additional 92,794 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Penske Automotive Group by 11.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock valued at $216,489,000 after buying an additional 154,443 shares in the last quarter. Diamant Asset Management Inc. grew its position in shares of Penske Automotive Group by 14,852.0% in the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after buying an additional 878,496 shares during the last quarter. Bank of Montreal Can grew its position in shares of Penske Automotive Group by 39,232.7% in the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock valued at $136,660,000 after buying an additional 861,157 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Penske Automotive Group by 6.6% during the 3rd quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock worth $125,043,000 after acquiring an additional 44,749 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Trading Up 1.8%

NYSE PAG opened at $219.50 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. The firm has a market cap of $14.43 billion, a PE ratio of 16.38, a P/E/G ratio of 2.79 and a beta of 0.87. Penske Automotive Group, Inc. has a one year low of $140.12 and a one year high of $220.13. The firm’s fifty day moving average is $183.13 and its two-hundred day moving average is $167.72.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.14. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The business had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the prior year, the firm earned $3.66 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts expect that Penske Automotive Group, Inc. will post 13.45 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $1.44 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, August 14th. This represents a $5.76 annualized dividend and a yield of 2.6%. Penske Automotive Group’s payout ratio is presently 42.99%.

Insider Activity

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction that occurred on 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 $3,022,992.80. This represents a 7.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg C. Smith sold 1,488 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 52.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAG. Morgan Stanley restated an “overweight” rating and issued a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday, May 7th. Benchmark cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. UBS Group set a $190.00 price target on Penske Automotive Group in a research note on Friday, July 10th. Citigroup lowered Penske Automotive Group from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $199.00 to $210.00 in a research report on Thursday, July 23rd. Finally, Stephens boosted their price objective on Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Penske Automotive Group currently has an average rating of “Moderate Buy” and a consensus price target of $196.00.

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.