Penske Automotive Group, Inc. (NYSE:PAG) Stock Holdings Lifted by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd raised its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 164.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,991 shares of the company's stock after acquiring an additional 3,106 shares during the period. Aster Capital Management DIFC Ltd's holdings in Penske Automotive Group were worth $761,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Penske Automotive Group during the 4th quarter valued at approximately $22,049,000. Moran Wealth Management LLC acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at $14,157,000. Bank of New York Mellon Corp grew its position in shares of Penske Automotive Group by 24.4% during the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after acquiring an additional 51,720 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of 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 acquiring an additional 38,388 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Penske Automotive Group by 174.9% in the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company's stock valued at $6,250,000 after purchasing an additional 26,085 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Remove Ads

Analyst Ratings Changes

A number of equities analysts recently issued reports on PAG shares. Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a "buy" rating for the company. Stephens restated an "equal weight" rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. StockNews.com lowered shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $166.25.

Penske Automotive Group Price Performance

NYSE:PAG traded up $2.36 during mid-day trading on Friday, reaching $151.18. 125,756 shares of the stock were exchanged, compared to its average volume of 195,320. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average price of $158.09 and a 200 day moving average price of $158.54. Penske Automotive Group, Inc. has a 1-year low of $134.05 and a 1-year high of $180.12. The firm has a market capitalization of $10.09 billion, a PE ratio of 10.99 and a beta of 1.03.

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, topping the consensus estimate of $3.37 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. Research analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share 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. Stockholders of record on Monday, February 24th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend 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 dividend yield of 3.23%. Penske Automotive Group's dividend payout ratio (DPR) is currently 35.49%.

Insider Buying and Selling

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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Barr sold 1,529 shares of the business's stock in a transaction on Thursday, March 13th. The shares were 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. Insiders own 51.70% of the company's stock.

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.