Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP boosted its position in Penske Automotive Group, Inc. (NYSE:PAG) by 80.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,296 shares of the company’s stock after purchasing an additional 22,890 shares during the quarter. ExodusPoint Capital Management LP owned about 0.08% of Penske Automotive Group worth $7,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $22,049,000. Moran Wealth Management LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $14,157,000. Bank of New York Mellon Corp lifted its stake in Penske Automotive Group by 24.4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock worth $40,179,000 after purchasing an additional 51,720 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Penske Automotive Group by 17.4% during the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock worth $39,560,000 after purchasing an additional 38,388 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Penske Automotive Group by 174.9% in the fourth quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock valued at $6,250,000 after purchasing an additional 26,085 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PAG shares. StockNews.com upgraded 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. JPMorgan Chase & Co. cut their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Finally, Benchmark initiated coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Penske Automotive Group presently has an average rating of “Moderate Buy” and a consensus target price of $166.25.

Penske Automotive Group Stock Up 0.3 %

Shares of PAG opened at $141.53 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The firm has a market cap of $9.45 billion, a P/E ratio of 10.29 and a beta of 1.24. The company’s 50-day moving average price is $160.47 and its 200 day moving average price is $159.11. Penske Automotive Group, Inc. has a 12-month low of $136.86 and a 12-month high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.56 billion. On average, 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a dividend of $1.22 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of Penske Automotive Group 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction that occurred on 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 sale, 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 52.40% of the company’s stock.

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.