Moran Wealth Management LLC Purchases New Position in Penske Automotive Group, Inc. (NYSE:PAG)

Moran Wealth Management LLC purchased a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PAG. GAMMA Investing LLC increased its holdings in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after purchasing an additional 81 shares during the period. True Wealth Design LLC increased its holdings in shares of Penske Automotive Group by 14,833.3% in the third 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 period. Transamerica Financial Advisors Inc. increased 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 purchasing an additional 453 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group in the third quarter worth $94,000. Finally, KBC Group NV increased its holdings in shares of Penske Automotive Group by 33.5% in the fourth quarter. KBC Group NV now owns 749 shares of the company's stock worth $114,000 after purchasing an additional 188 shares during the period. Institutional investors own 77.08% of the company's stock.

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Insiders Place Their Bets

In other Penske Automotive Group 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 completion of the transaction, the executive vice president now owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 51.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PAG has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. Stephens reissued an "equal weight" rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a "buy" rating on the stock. Finally, StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $172.50.

Penske Automotive Group Trading Down 1.7 %

Shares of NYSE:PAG traded down $2.69 on Wednesday, reaching $157.39. 269,433 shares of the company traded hands, compared to its average volume of 177,178. The business's 50-day simple moving average is $163.21 and its 200 day simple moving average is $160.68. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12. The stock has a market capitalization of $10.51 billion, a P/E ratio of 11.45 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $1.22 dividend. The ex-dividend date was Monday, February 24th. 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 yield of 3.10%. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

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.