Investment House LLC Buys Shares of 1,325 Penske Automotive Group, Inc. (NYSE:PAG)

Investment House LLC purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,325 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. boosted its stake in shares of Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Penske Automotive Group during the third quarter valued at approximately $94,000. Finally, KBC Group NV raised its stake in Penske Automotive Group by 33.5% in the fourth quarter. KBC Group NV now owns 749 shares of the company’s stock worth $114,000 after buying an additional 188 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 1.4 %

PAG stock opened at $150.49 on Thursday. The stock has a market capitalization of $10.04 billion, a PE ratio of 10.94 and a beta of 1.24. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12. 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 of $163.18 and a 200 day moving average of $160.04.

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 analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. The ex-dividend date was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 3.24%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Analyst Ratings Changes

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

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.