Axxcess Wealth Management LLC Makes New $1.83 Million Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Axxcess Wealth Management LLC purchased a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,993 shares of the company’s stock, valued at approximately $1,828,000.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in 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 buying an additional 81 shares in the last quarter. True Wealth Design LLC increased its stake in 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 buying an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after buying an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Penske Automotive Group in the 3rd quarter worth $94,000. Finally, KBC Group NV increased its stake in Penske Automotive Group by 33.5% in the 4th 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. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 1.4 %

Shares of NYSE:PAG opened at $150.49 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12. The company has a 50-day moving average price of $163.18 and a 200 day moving average price of $160.04. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 10.94 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS 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 during the quarter, compared to the consensus estimate of $7.56 billion. As a group, equities 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 disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $1.22 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.24%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Insiders Place Their Bets

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.