New Age Alpha Advisors LLC Acquires Shares of 15,875 Penske Automotive Group, Inc. (NYSE:PAG)

New Age Alpha Advisors LLC bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,875 shares of the company’s stock, valued at approximately $2,420,000.

Other hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC raised its position in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after acquiring an additional 63 shares in the last quarter. Blue Chip Partners LLC increased its holdings in shares of Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock valued at $1,617,000 after purchasing an additional 73 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Penske Automotive Group by 0.5% in the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock valued at $2,704,000 after purchasing an additional 82 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Penske Automotive Group by 5.1% during the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after buying an additional 88 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $140.99 on Friday. 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 business’s fifty day moving average price is $162.15 and its two-hundred day moving average price is $159.40. The stock has a market cap of $9.41 billion, a PE ratio of 10.25 and a beta of 1.24. Penske Automotive Group, Inc. has a one year low of $139.56 and a one year high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. On average, analysts forecast 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 was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given 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 yield of 3.46%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated 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 completion of the sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Barr sold 1,529 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by insiders.

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.