Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Inceptionr LLC

Inceptionr LLC grew its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 92.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,281 shares of the company’s stock after purchasing an additional 4,449 shares during the quarter. Inceptionr LLC’s holdings in Penske Automotive Group were worth $1,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PAG. Janney Montgomery Scott LLC lifted its stake in shares of Penske Automotive Group by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 46,568 shares of the company’s stock worth $7,564,000 after purchasing an additional 496 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Penske Automotive Group during the third quarter worth about $285,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Penske Automotive Group during the third quarter worth about $406,000. Capital Performance Advisors LLP purchased a new stake in shares of Penske Automotive Group during the third quarter worth about $112,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Penske Automotive Group during the third quarter worth about $221,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Stephens reaffirmed an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.50.

Insider Activity

In other news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Up 1.0 %

Shares of Penske Automotive Group stock opened at $165.36 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $11.04 billion, a P/E ratio of 12.03 and a beta of 1.20. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $180.12. The business has a 50-day moving average price of $162.14 and a 200 day moving average price of $160.70.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.37 by $0.17. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. On average, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 2.95%. Penske Automotive Group’s dividend payout ratio is 35.49%.

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.