Penske Automotive Group, Inc. (NYSE:PAG) Position Reduced by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,471 shares of the company's stock after selling 3,003 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of Penske Automotive Group worth $6,322,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAG. New Age Alpha Advisors LLC bought a new position in shares of Penske Automotive Group during the 4th quarter valued at approximately $2,420,000. Norges Bank bought a new stake in shares of Penske Automotive Group during the fourth quarter valued at approximately $22,049,000. BIT Capital GmbH purchased a new stake in shares of Penske Automotive Group in the 4th quarter worth $825,000. Financial Engines Advisors L.L.C. increased its position in Penske Automotive Group by 10.4% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 2,909 shares of the company's stock valued at $443,000 after purchasing an additional 275 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in shares of Penske Automotive Group by 77.1% in the 4th quarter. EntryPoint Capital LLC now owns 2,931 shares of the company's stock valued at $447,000 after acquiring an additional 1,276 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAG has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price 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. Stephens reissued an "equal weight" rating and issued a $165.00 price objective on shares of Penske Automotive Group in a report 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 shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.25.

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Insider Activity

In other news, EVP Claude H. Denker III sold 8,746 shares of the company's stock in a transaction on 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 sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Company insiders own 52.40% of the company's stock.

Penske Automotive Group Trading Down 5.5 %

Penske Automotive Group stock traded down $8.27 during midday trading on Thursday, reaching $141.23. 393,134 shares of the stock traded hands, compared to its average volume of 189,732. The firm has a market cap of $9.43 billion, a PE ratio of 10.27 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. The company has a 50-day simple moving average of $160.86 and a two-hundred day simple moving average of $159.21. Penske Automotive Group, Inc. has a 12-month low of $116.02 and a 12-month high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping analysts' consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The company had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. 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 announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. 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 3.46%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's dividend payout ratio is presently 35.49%.

Penske Automotive Group 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.