KAR Auction Services Inc (KAR) Holdings Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in KAR Auction Services Inc (NYSE:KAR) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,601 shares of the specialty retailer’s stock after purchasing an additional 6,437 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of KAR Auction Services worth $3,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of KAR Auction Services by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 11,344,446 shares of the specialty retailer’s stock valued at $476,126,000 after purchasing an additional 57,704 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of KAR Auction Services by 18.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock valued at $246,255,000 after acquiring an additional 918,735 shares during the last quarter. BlackRock Inc. increased its holdings in shares of KAR Auction Services by 1.9% in the 2nd quarter. BlackRock Inc. now owns 5,726,037 shares of the specialty retailer’s stock valued at $240,320,000 after acquiring an additional 107,601 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of KAR Auction Services by 2.9% in the 3rd quarter. Bessemer Group Inc. now owns 3,207,071 shares of the specialty retailer’s stock valued at $153,105,000 after acquiring an additional 91,373 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of KAR Auction Services by 11.1% in the 3rd quarter. Schroder Investment Management Group now owns 3,033,008 shares of the specialty retailer’s stock valued at $142,612,000 after acquiring an additional 302,029 shares during the last quarter. 99.18% of the stock is currently owned by institutional investors.

In other news, EVP Benjamin Skuy sold 12,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total value of $481,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,000 shares of company stock valued at $1,575,200. 1.30% of the stock is owned by company insiders.

KAR has been the subject of a number of research analyst reports. Stephens downgraded KAR Auction Services from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $51.00 to $48.00 in a report on Thursday, September 7th. Jefferies Group reiterated a “buy” rating and issued a $50.00 price target on shares of KAR Auction Services in a report on Tuesday, September 12th. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, October 10th. JPMorgan Chase & Co. boosted their price target on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $52.20.

KAR Auction Services Inc (NYSE KAR) opened at $50.63 on Thursday. The company has a market capitalization of $6,870.00, a price-to-earnings ratio of 29.78, a P/E/G ratio of 1.61 and a beta of 1.07. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.35 and a current ratio of 1.35. KAR Auction Services Inc has a 52 week low of $40.27 and a 52 week high of $51.52.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. The firm had revenue of $843.00 million during the quarter, compared to the consensus estimate of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. analysts anticipate that KAR Auction Services Inc will post 2.36 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be paid a dividend of $0.35 per share. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s dividend payout ratio is presently 82.35%.

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KAR Auction Services Company Profile

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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