Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC lifted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 128.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,973 shares of the company's stock after purchasing an additional 6,743 shares during the quarter. Ieq Capital LLC's holdings in Penske Automotive Group were worth $1,825,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC increased its holdings 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 purchasing an additional 81 shares during the period. True Wealth Design LLC increased its stake in shares of Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company's stock worth $73,000 after buying an additional 445 shares during the period. Transamerica Financial Advisors Inc. raised its holdings in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock valued at $74,000 after acquiring an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group in the third quarter valued at approximately $94,000. Finally, Capital Performance Advisors LLP purchased a new position in Penske Automotive Group in the third quarter worth approximately $112,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Penske Automotive Group Stock Down 1.0 %

Shares of Penske Automotive Group stock traded down $1.64 during trading hours on Thursday, hitting $165.70. The company had a trading volume of 237,580 shares, compared to its average volume of 190,855. The company's 50-day moving average is $161.39 and its two-hundred day moving average is $160.63. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $180.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a market cap of $11.06 billion, a P/E ratio of 12.05 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued 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 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 analyst estimates of $7.56 billion. Analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be given a dividend of $1.22 per share. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, February 24th. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAG. StockNews.com raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an "underweight" rating in a report on Wednesday, February 19th. Benchmark began coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating for the company. Finally, Stephens reiterated 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Penske Automotive Group currently has an average rating of "Moderate Buy" and a consensus target price of $172.50.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 28,917 shares in the company, valued at approximately $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 accessible through the SEC website. 51.70% of the stock is currently owned by company insiders.

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.