Virtu Financial LLC Grows Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Virtu Financial LLC grew its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 49.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,620 shares of the company’s stock after purchasing an additional 870 shares during the period. Virtu Financial LLC’s holdings in Penske Automotive Group were worth $399,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAG. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Penske Automotive Group during the third quarter worth about $231,000. Citigroup Inc. boosted its holdings in shares of Penske Automotive Group by 4.1% during the 3rd quarter. Citigroup Inc. now owns 63,548 shares of the company’s stock valued at $10,321,000 after acquiring an additional 2,475 shares during the last quarter. Cerity Partners LLC grew its position in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after purchasing an additional 8,504 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Penske Automotive Group by 62.8% in the third quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company’s stock worth $4,743,000 after acquiring an additional 11,267 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares during the period. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Trading Down 2.5 %

Shares of NYSE PAG opened at $150.06 on Thursday. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $180.12. The company has a market cap of $10.02 billion, a price-to-earnings ratio of 10.91 and a beta of 1.24. The business’s 50 day moving average price is $163.03 and its 200-day moving average price is $159.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $7.56 billion. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.25%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Benchmark started coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. JPMorgan Chase & Co. upped their target price on shares of 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 note on Monday, February 24th. Finally, Stephens restated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Penske Automotive Group has an average rating of “Moderate Buy” and an average target price of $172.50.

Insider Activity

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

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.