New Age Alpha Advisors LLC Makes New $2.42 Million Investment in Penske Automotive Group, Inc. (NYSE:PAG)

New Age Alpha Advisors LLC bought a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,875 shares of the company's stock, valued at approximately $2,420,000.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC raised its position in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after buying an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Penske Automotive Group during the fourth quarter worth about $40,000. True Wealth Design LLC lifted its position in Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company's stock valued at $73,000 after purchasing an additional 445 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Penske Automotive Group in the 3rd quarter valued at approximately $94,000. Finally, KBC Group NV increased its position in Penske Automotive Group by 33.5% during the 4th quarter. KBC Group NV now owns 749 shares of the company's stock worth $114,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Down 6.6 %

NYSE:PAG traded down $9.83 during trading hours on Thursday, reaching $139.67. 61,837 shares of the company were exchanged, compared to its average volume of 188,373. Penske Automotive Group, Inc. has a 52-week low of $116.02 and a 52-week high of $180.12. The stock has a 50 day simple moving average of $161.27 and a 200 day simple moving average of $159.33. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 10.16 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

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Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate 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 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 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm 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 yield of 3.49%. The ex-dividend date was Monday, February 24th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio is 35.49%.

Insider Buying and Selling

In other news, EVP Claude H. Denker III sold 8,746 shares of the company's stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of the firm's stock in a transaction dated 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. Corporate insiders own 52.40% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PAG shares. JPMorgan Chase & Co. decreased their price target on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Benchmark assumed coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a "buy" rating on the stock. Stephens reissued an "equal weight" rating and set a $165.00 price target on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Finally, StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.