497 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Bought by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 497 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $22,049,000. Moran Wealth Management LLC acquired a new stake in shares of Penske Automotive Group during the fourth quarter valued at approximately $14,157,000. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $40,179,000 after acquiring an additional 51,720 shares in the last quarter. American Century Companies Inc. boosted its stake in Penske Automotive Group by 17.4% in 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 period. Finally, Victory Capital Management Inc. grew its position in Penske Automotive Group by 174.9% during the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock worth $6,250,000 after purchasing an additional 26,085 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $141.53 on Monday. Penske Automotive Group, Inc. has a one year low of $136.86 and a one year high of $180.12. The business’s 50-day moving average price is $160.47 and its two-hundred day moving average price is $159.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a market capitalization of $9.45 billion, a P/E ratio of 10.29 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. 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 the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was 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 SEC, which can be accessed through this hyperlink. 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 value of $1,513,320.38. Following the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $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 company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PAG shares. JPMorgan Chase & Co. reduced their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.25.

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.