Charles Schwab Investment Management Inc. Purchases 1,829 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Charles Schwab Investment Management Inc. increased its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,579 shares of the company's stock after purchasing an additional 1,829 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.22% of Penske Automotive Group worth $22,192,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Penske Automotive Group by 24.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock valued at $40,179,000 after acquiring an additional 51,720 shares during the period. Bruni J V & Co. Co. raised its holdings in Penske Automotive Group by 1.9% during the 4th quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company's stock valued at $30,510,000 after acquiring an additional 3,738 shares during the period. Citigroup Inc. raised its holdings in Penske Automotive Group by 4.1% during the 3rd quarter. Citigroup Inc. now owns 63,548 shares of the company's stock valued at $10,321,000 after acquiring an additional 2,475 shares during the period. Janney Montgomery Scott LLC raised its holdings in Penske Automotive Group by 19.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,767 shares of the company's stock valued at $8,501,000 after acquiring an additional 9,199 shares during the period. Finally, Rhumbline Advisers raised its holdings in Penske Automotive Group by 4.7% during the 4th quarter. Rhumbline Advisers now owns 54,063 shares of the company's stock valued at $8,241,000 after acquiring an additional 2,446 shares during the period. Institutional investors own 77.08% of the company's stock.

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Penske Automotive Group Price Performance

Shares of PAG traded down $0.57 during mid-day trading on Friday, reaching $149.40. 303,124 shares of the stock traded hands, compared to its average volume of 177,992. The firm has a fifty day moving average price of $163.05 and a 200 day moving average price of $159.76. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 10.87 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, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to analyst estimates of $7.56 billion. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given 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 3.27%. Penske Automotive Group's payout ratio is 35.49%.

Insider Buying and Selling

In other news, Director John Barr sold 1,529 shares of the firm's 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an "underweight" rating in a report on Wednesday, February 19th. Benchmark assumed coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating on the stock. StockNews.com raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Stephens restated 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $172.50.

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.