Xponance Inc. Increases Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Xponance Inc. boosted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,995 shares of the company’s stock after buying an additional 115 shares during the period. Xponance Inc.’s holdings in Penske Automotive Group were worth $457,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Penske Automotive Group by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after acquiring an additional 51,720 shares during the period. Bruni J V & Co. Co. lifted its stake in Penske Automotive Group by 1.9% in the fourth quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company’s stock worth $30,510,000 after purchasing an additional 3,738 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its position in shares of Penske Automotive Group by 0.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company’s stock valued at $27,891,000 after buying an additional 1,486 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Penske Automotive Group by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,579 shares of the company’s stock valued at $22,192,000 after buying an additional 1,829 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter worth approximately $14,157,000. 77.08% of the stock is currently owned by institutional investors.

Insider Activity

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the firm’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 value of $237,683.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was 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.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $150.06 on Thursday. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12. The stock’s fifty day moving average price is $163.03 and its 200-day moving average price is $159.62. The firm has a market cap of $10.02 billion, a P/E ratio of 10.91 and a beta of 1.24. 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 (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS 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 business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. On average, equities research analysts expect 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 was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $1.22 per share. The ex-dividend date was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 3.25%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PAG shares. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Benchmark initiated coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Stephens reiterated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, 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. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.