Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Bruni J V & Co. Co.

Bruni J V & Co. Co. increased its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,142 shares of the company’s stock after purchasing an additional 3,738 shares during the period. Penske Automotive Group accounts for 3.5% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 13th biggest position. Bruni J V & Co. Co. owned about 0.30% of Penske Automotive Group worth $30,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares during the period. True Wealth Design LLC grew its position in Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after buying an additional 453 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $94,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $112,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PAG. Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Finally, StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $172.50.

Penske Automotive Group Stock Up 1.9 %

PAG opened at $168.67 on Friday. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The stock has a market cap of $11.26 billion, a P/E ratio of 12.27 and a beta of 1.20. The stock’s 50 day moving average price is $161.56 and its 200 day moving average price is $160.66.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, research analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 2.89%. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Insider Activity

In other news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 51.70% of the stock is owned by insiders.

Penske Automotive Group Company Profile

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.