Dynamic Technology Lab Private Ltd Makes New $634,000 Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Dynamic Technology Lab Private Ltd acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,159 shares of the company's stock, valued at approximately $634,000.

Several other large investors also recently modified their holdings of PAG. Vanguard Group Inc. raised its position in shares of Penske Automotive Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock valued at $304,757,000 after buying an additional 12,912 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Penske Automotive Group by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after buying an additional 51,720 shares during the period. American Century Companies Inc. boosted its stake in shares of Penske Automotive Group by 17.4% during the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock valued at $39,560,000 after purchasing an additional 38,388 shares during the period. Bruni J V & Co. Co. grew its stake in Penske Automotive Group by 1.9% in the 4th quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company's stock worth $30,510,000 after acquiring an additional 3,738 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position in Penske Automotive Group by 0.8% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company's stock valued at $27,891,000 after purchasing an additional 1,486 shares in the last quarter. Institutional investors own 77.08% of the company's stock.

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Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction on Friday, February 14th. The stock was 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 directly owns 28,917 shares of the company's stock, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Barr sold 1,529 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were 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 51.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PAG. StockNews.com downgraded shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Finally, Stephens reiterated 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $166.25.

Penske Automotive Group Price Performance

Shares of NYSE:PAG traded up $2.85 during trading on Friday, reaching $151.67. 363,015 shares of the company's stock traded hands, compared to its average volume of 195,347. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10.12 billion, a PE ratio of 11.03 and a beta of 1.03. The company has a 50-day simple moving average of $157.75 and a 200-day simple moving average of $158.45. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week 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, beating 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 business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. As a group, analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio is currently 35.49%.

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.