Penske Automotive Group, Inc. (NYSE:PAG) Stock Holdings Decreased by Aigen Investment Management LP

Aigen Investment Management LP lowered its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 36.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,868 shares of the company’s stock after selling 2,257 shares during the period. Aigen Investment Management LP’s holdings in Penske Automotive Group were worth $590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealthspire Advisors LLC increased its position in shares of Penske Automotive Group by 2.4% in the 4th quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Penske Automotive Group by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock worth $316,000 after purchasing an additional 69 shares during the last quarter. Blue Chip Partners LLC increased its position in shares of Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after purchasing an additional 73 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Penske Automotive Group by 0.5% in the 3rd quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Penske Automotive Group

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 shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 51.70% of the stock is currently owned by company insiders.

Penske Automotive Group Trading Up 0.9 %

Penske Automotive Group stock opened at $166.75 on Friday. 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 50-day moving average price of $162.29 and a two-hundred day moving average price of $160.73. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.13 and a beta of 1.20. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.02% and a return on equity of 18.05%. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.93%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. Penske Automotive Group’s payout ratio is presently 35.49%.

About Penske Automotive Group

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.