Farringdon Capital Ltd. Invests $944,000 in Penske Automotive Group, Inc. (NYSE:PAG)

Farringdon Capital Ltd. acquired a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,191 shares of the company's stock, valued at approximately $944,000.

Several other institutional investors also recently made changes to their positions in PAG. GAMMA Investing LLC increased its position in 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 buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Penske Automotive Group in the 4th quarter valued at about $40,000. Headlands Technologies LLC acquired a new position in Penske Automotive Group during the 4th quarter valued at about $76,000. Wilmington Savings Fund Society FSB bought a new position in Penske Automotive Group in the 3rd quarter worth about $94,000. Finally, KBC Group NV increased its stake 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 valued at $114,000 after purchasing an additional 188 shares during the period. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Price Performance

NYSE:PAG traded up $3.08 during mid-day trading on Tuesday, reaching $154.02. 102,939 shares of the stock were exchanged, compared to its average volume of 240,674. Penske Automotive Group, Inc. has a 1-year low of $134.05 and a 1-year high of $180.12. 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 firm has a market capitalization of $10.28 billion, a PE ratio of 11.20 and a beta of 1.03. The business has a fifty day moving average price of $155.86 and a 200 day moving average price of $158.08.

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. 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 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 3.17%. Penske Automotive Group's dividend payout ratio (DPR) is currently 35.49%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAG. JPMorgan Chase & Co. lowered their target price on 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. StockNews.com lowered Penske Automotive Group from a "buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $166.25.

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 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. 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.