Quest Partners LLC Has $469,000 Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Quest Partners LLC lessened its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 82.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,889 shares of the company’s stock after selling 13,227 shares during the period. Quest Partners LLC’s holdings in Penske Automotive Group were worth $469,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PAG. Fifth Third Bancorp lifted its holdings in Penske Automotive Group by 32.2% during the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after buying an additional 91 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Penske Automotive Group in the second quarter worth approximately $69,000. Capital Performance Advisors LLP bought a new stake in Penske Automotive Group in the third quarter valued at approximately $112,000. Blue Trust Inc. increased its position in Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after purchasing an additional 113 shares during the period. Finally, Brighton Jones LLC bought a new position in Penske Automotive Group during the 3rd quarter worth approximately $209,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 2.0 %

Shares of NYSE PAG opened at $164.08 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10.96 billion, a PE ratio of 12.57 and a beta of 1.17. The company’s fifty day simple moving average is $157.35 and its 200 day simple moving average is $156.55. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $179.72.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same period last year, the company earned $3.90 EPS. Penske Automotive Group’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.55 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s dividend payout ratio (DPR) is 36.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stephens assumed coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective on the stock. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th.

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.