LSV Asset Management Lowers Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

LSV Asset Management lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 885,887 shares of the company's stock after selling 48,800 shares during the quarter. LSV Asset Management owned 1.33% of Penske Automotive Group worth $135,045,000 as of its most recent SEC filing.

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

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Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the company'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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company's stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.70% of the company's stock.

Penske Automotive Group Trading Down 0.3 %

Shares of PAG traded down $0.50 during mid-day trading on Tuesday, reaching $150.81. 145,385 shares of the company were exchanged, compared to its average volume of 195,628. The business has a 50 day simple moving average of $157.37 and a two-hundred day simple moving average of $158.37. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $180.12. The stock has a market capitalization of $10.07 billion, a PE ratio of 10.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

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, beating analysts' consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, analysts predict 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. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's payout ratio is presently 35.49%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PAG. Stephens restated an "equal weight" rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. StockNews.com lowered Penske Automotive Group from a "buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $166.25.

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.