Symmetry Partners LLC Sells 169 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Symmetry Partners LLC trimmed its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,119 shares of the company’s stock after selling 169 shares during the period. Symmetry Partners LLC’s holdings in Penske Automotive Group were worth $1,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAG. Atria Wealth Solutions Inc. bought a new position in shares of Penske Automotive Group during the third quarter valued at about $218,000. Vanguard Personalized Indexing Management LLC raised its stake in Penske Automotive Group by 3.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock worth $370,000 after buying an additional 70 shares in the last quarter. Pathstone Family Office LLC bought a new position in Penske Automotive Group in the third quarter worth about $271,000. HighTower Advisors LLC increased its stake in shares of Penske Automotive Group by 128.0% during the third quarter. HighTower Advisors LLC now owns 15,660 shares of the company’s stock valued at $2,620,000 after purchasing an additional 8,792 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Penske Automotive Group by 127.5% during the third quarter. UBS Group AG now owns 84,740 shares of the company’s stock valued at $14,157,000 after purchasing an additional 47,488 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Stock Performance

PAG stock traded down $0.39 on Tuesday, hitting $147.12. The company had a trading volume of 105,349 shares, compared to its average volume of 192,403. Penske Automotive Group, Inc. has a 12-month low of $137.95 and a 12-month high of $180.84. The company has a current ratio of 0.98, a quick ratio of 0.23 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $152.16 and its 200 day simple moving average is $153.41. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 10.26 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($0.14). The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.31 EPS. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 13.37 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 Tuesday, June 4th. Stockholders of record on Monday, May 20th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.61%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, May 17th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 26.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PAG shares. Bank of America raised their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley raised their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group has a consensus rating of “Hold” and an average price target of $163.20.

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.