Penske Automotive Group, Inc. (NYSE:PAG) Stock Holdings Decreased by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,659 shares of the company’s stock after selling 537 shares during the quarter. MetLife Investment Management LLC’s holdings in Penske Automotive Group were worth $1,569,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PAG. Fifth Third Bancorp raised its stake in Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Penske Automotive Group in the 2nd quarter worth approximately $69,000. Transamerica Financial Advisors Inc. increased its holdings in shares of Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after acquiring an additional 453 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Penske Automotive Group during the 3rd quarter valued at approximately $112,000. Finally, Blue Trust Inc. lifted its stake in Penske Automotive Group by 17.5% during the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after purchasing an additional 113 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $163.74 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The firm has a market capitalization of $10.93 billion, a PE ratio of 12.55 and a beta of 1.18. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $179.72. The business’s fifty day moving average price is $158.67 and its two-hundred day moving average price is $157.14.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.90 earnings per share. On average, research analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $1.19 per share. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a dividend yield of 2.91%. Penske Automotive Group’s payout ratio is currently 36.48%.

Analysts Set New Price Targets

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

Penske Automotive Group Profile

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.