Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Ieq Capital LLC

Ieq Capital LLC lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 128.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,973 shares of the company’s stock after buying an additional 6,743 shares during the period. Ieq Capital LLC’s holdings in Penske Automotive Group were worth $1,825,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PAG. GAMMA Investing LLC increased its stake in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the last quarter. True Wealth Design LLC grew its holdings in Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. increased its position in Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Penske Automotive Group during the third quarter worth approximately $94,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Penske Automotive Group in the 3rd quarter valued at $112,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PAG. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Benchmark started coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Finally, Stephens reaffirmed an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $172.50.

Check Out Our Latest Stock Analysis on Penske Automotive Group

Insider Buying and Selling at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 51.70% of the stock is owned by company insiders.

Penske Automotive Group Stock Down 2.6 %

NYSE:PAG opened at $163.54 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 11.89 and a beta of 1.20. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $180.12. The stock has a 50-day simple moving average of $161.04 and a 200 day simple moving average of $160.52.

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

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be given a $1.22 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 2.98%. Penske Automotive Group’s dividend payout ratio is 35.49%.

Penske Automotive Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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