Vanguard Group Inc. Acquires 12,912 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Vanguard Group Inc. lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,999,191 shares of the company's stock after purchasing an additional 12,912 shares during the period. Vanguard Group Inc. owned 2.99% of Penske Automotive Group worth $304,757,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. LPL Financial LLC lifted its holdings in Penske Automotive Group by 48.0% in the 4th quarter. LPL Financial LLC now owns 9,638 shares of the company's stock worth $1,469,000 after buying an additional 3,124 shares during the period. Fox Run Management L.L.C. purchased a new stake in Penske Automotive Group in the fourth quarter worth $210,000. KLP Kapitalforvaltning AS bought a new stake in Penske Automotive Group in the fourth quarter valued at $625,000. AXQ Capital LP purchased a new position in Penske Automotive Group during the 4th quarter valued at $266,000. Finally, Sei Investments Co. increased its position in Penske Automotive Group by 20.3% during the 4th quarter. Sei Investments Co. now owns 47,267 shares of the company's stock valued at $7,205,000 after purchasing an additional 7,978 shares during the period. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Stock Down 0.6 %

Shares of PAG stock traded down $0.88 during trading hours on Tuesday, hitting $139.64. 518,858 shares of the company's stock traded hands, compared to its average volume of 193,823. 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 stock's fifty day simple moving average is $158.97 and its two-hundred day simple moving average is $158.71. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $180.12. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 10.16 and a beta of 1.03.

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Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share 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 during the quarter, compared to analyst estimates of $7.56 billion. On average, analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

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

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction on 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 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 Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stephens reaffirmed an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating on the stock. JPMorgan Chase & Co. lowered their target price 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. Finally, StockNews.com lowered Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Penske Automotive Group currently has a consensus rating of "Hold" and a consensus price target of $166.25.

Penske Automotive Group 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.