92,871 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 92,871 shares of the company’s stock, valued at approximately $14,157,000. Moran Wealth Management LLC owned 0.14% of Penske Automotive Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAG. GAMMA Investing LLC boosted 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 worth $40,000 after acquiring an additional 81 shares in the last quarter. True Wealth Design LLC raised its position in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its holdings in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after acquiring an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Penske Automotive Group during the 3rd quarter worth about $94,000. Finally, KBC Group NV grew its holdings in shares of Penske Automotive Group by 33.5% during the fourth 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. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. 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. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.50.

Penske Automotive Group Trading Up 1.3 %

NYSE:PAG opened at $168.98 on Monday. The business’s 50-day moving average is $162.77 and its two-hundred day moving average is $160.77. The firm has a market capitalization of $11.28 billion, a PE ratio of 12.29 and a beta of 1.24. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group (NYSE:PAG) last announced its 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 return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Buying and Selling

In other news, EVP Claude H. Denker III sold 8,746 shares of the 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. This represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.70% of the stock is owned by company insiders.

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.