The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.47. Canada Pension Plan Investment Board now owns 23,800 shares of the company's stock valued at $1,045,000 after purchasing an additional 11,900 shares during the last quarter.
More notable recent Penske Automotive Group, Inc. Vanguard Group Inc. raised its holdings in Penske Automotive Group by 1.9% during the second quarter. Teachers Advisors LLC now owns 43,721 shares of the company's stock valued at $2,047,000 after purchasing an additional 2,273 shares during the last quarter. LSV Asset Management grew its position in shares of Penske Automotive Group by 4.2% in the second quarter. Over the last 90 days, insiders sold 81,694 shares of company stock worth $6,400,456.
Among 7 analysts covering Penske Automotive Group (NYSE:PAG), 3 have Buy rating, 1 Sell and 3 Hold.
Gramercy Funds Management Llc, which manages about $3.11 billion and $532.89 million US Long portfolio, upped its stake in Latin Amern Discovery Fd Inc (LDF) by 31,878 shares to 57,811 shares, valued at $606,000 in 2017Q2, according to the filing. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.24. The Perella Weinberg Partners Capital Management Lp holds 16,465 shares with $723,000 value, up from 8,814 last quarter. Thrivent Financial for Lutherans now owns 10,730 shares of the company's stock valued at $836,000 after buying an additional 570 shares in the last quarter. Institutional investors own 97.58% of the company's stock.
PAG has been the topic of several research analyst reports. Gabelli raised their target price on shares of Penske Automotive Group from $68.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, October 26th. As per Thursday, September 15, the company rating was downgraded by Gabelli. ValuEngine downgraded Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Friday, September 1st. The firm earned "Hold" rating on Monday, November 13 by KeyBanc Capital Markets. Finally, KeyCorp reaffirmed a "hold" rating on shares of Penske Automotive Group in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. The lowest target is $48.0 while the high is $65.0.
The stock increased 1.45% or $0.1 during the last trading session, reaching $7. About 36,390 shares traded. The stock has a market capitalization of $1,559.63, a price-to-earnings ratio of 10.15, a PEG ratio of 1.44 and a beta of 1.69. Geode Capital Mngmt Limited Liability Company has invested 0% of its portfolio in Group 1 Automotive, Inc.
Gramercy Funds Management Llc decreased its stake in Penske Automotive Grp Inc (PAG) by 29.15% based on its latest 2017Q2 regulatory filing with the SEC. The stock of Group 1 Automotive, Inc. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period a year ago, the business earned $1.03 earnings per share. During the same period last year, the business posted $1.03 earnings per share. research analysts forecast that Penske Automotive Group, Inc. will post 4.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.56%. Penske Automotive Group's dividend payout ratio (DPR) is 30.91%. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Accern also assigned news articles about the company an impact score of 46.4227508255328 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company's share price in the near term. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
In other Penske Automotive Group news, CFO John D. Jr. The shares were sold at an average price of $46.20, for a total transaction of $323,400.00. Following the completion of the transaction, the insider now owns 11,564,576 shares in the company, valued at $523,759,647.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Shares for $50.00 million were bought by PENSKE CORP on Friday, October 20. The disclosure for this sale can be found here.
Group 1 Automotive (GPI) traded up 1.35% during mid-day trading on Thursday, hitting $61.38.
TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. Berenberg Bank initiated coverage on Penske Automotive Group in a research report on Wednesday, October 4th. Penske Automotive Group, Inc. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and fix services, and sells vehicle parts.
A number of other large investors have also recently modified their holdings of PAG.