James Investment Research Inc. Decreases Position in Penske Automotive Group, Inc. (NYSE:PAG)

James Investment Research Inc. lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 34.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,488 shares of the company’s stock after selling 10,803 shares during the period. James Investment Research Inc.’s holdings in Penske Automotive Group were worth $915,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PAG. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Penske Automotive Group during the fourth quarter valued at about $19,176,000. Marshall Wace LLP purchased a new position in shares of Penske Automotive Group during the third quarter valued at about $17,577,000. Norges Bank purchased a new position in shares of Penske Automotive Group during the fourth quarter valued at about $9,438,000. CI Investments Inc. grew its position in shares of Penske Automotive Group by 21.7% during the fourth quarter. CI Investments Inc. now owns 1,212,661 shares of the company’s stock valued at $48,894,000 after purchasing an additional 216,600 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Penske Automotive Group by 5,414.4% during the fourth quarter. Deutsche Bank AG now owns 185,119 shares of the company’s stock valued at $7,463,000 after purchasing an additional 181,762 shares in the last quarter. Institutional investors and hedge funds own 43.58% of the company’s stock.

NYSE PAG traded down $0.54 during trading on Wednesday, hitting $43.90. The stock had a trading volume of 394,753 shares, compared to its average volume of 462,737. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.22. The company has a market cap of $3.67 billion, a P/E ratio of 8.22, a PEG ratio of 1.81 and a beta of 1.36. Penske Automotive Group, Inc. has a one year low of $38.49 and a one year high of $53.84.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.74 billion. Penske Automotive Group had a net margin of 2.05% and a return on equity of 17.38%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 5.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.56 annualized dividend and a yield of 3.55%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.38. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.21%.

In other Penske Automotive Group news, Director John Barr sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $44.31, for a total value of $221,550.00. Following the completion of the sale, the director now owns 18,000 shares of the company’s stock, valued at $797,580. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 42.60% of the stock is owned by company insiders.

A number of brokerages have recently weighed in on PAG. Zacks Investment Research upgraded Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. ValuEngine raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley lowered their price target on shares of Penske Automotive Group from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. assumed coverage on shares of Penske Automotive Group in a report on Tuesday, February 19th. They issued a “neutral” rating and a $51.00 price target for the company. Finally, Seaport Global Securities assumed coverage on shares of Penske Automotive Group in a report on Wednesday, February 13th. They issued a “buy” rating and a $61.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Penske Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $55.83.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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