Allianz Asset Management GmbH Has $61.77 Million Holdings in KAR Auction Services, Inc (KAR)

Allianz Asset Management GmbH cut its holdings in shares of KAR Auction Services, Inc (NYSE:KAR) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293,871 shares of the specialty retailer’s stock after selling 50,390 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.96% of KAR Auction Services worth $61,768,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KAR. Archford Capital Strategies LLC raised its holdings in shares of KAR Auction Services by 832.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 832 shares during the period. KBC Group NV raised its holdings in shares of KAR Auction Services by 81.5% in the 3rd quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 1,211 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of KAR Auction Services in the 2nd quarter valued at about $118,000. PNC Financial Services Group Inc. raised its holdings in shares of KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after purchasing an additional 2,087 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of KAR Auction Services by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 363 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Benjamin Skuy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total transaction of $481,400.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Gabelli cut shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Thursday, November 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a report on Tuesday, September 12th. J P Morgan Chase & Co upped their target price on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, Stephens cut shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $51.00 to $48.00 in a report on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $52.20.

Shares of KAR Auction Services, Inc (NYSE:KAR) traded up $0.09 during mid-day trading on Wednesday, hitting $50.74. 852,300 shares of the stock were exchanged, compared to its average volume of 949,784. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $6,851.17, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07. KAR Auction Services, Inc has a 12 month low of $40.27 and a 12 month high of $51.01.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.76%. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio is 75.29%.

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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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