American Century Companies Inc. Buys 38,388 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

American Century Companies Inc. lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,513 shares of the company's stock after purchasing an additional 38,388 shares during the period. American Century Companies Inc. owned 0.39% of Penske Automotive Group worth $39,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Penske Automotive Group by 36.9% during the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company's stock worth $6,426,000 after acquiring an additional 10,663 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Penske Automotive Group during the fourth quarter valued at about $240,000. Cerity Partners LLC grew its holdings in shares of Penske Automotive Group by 176.1% during the third quarter. Cerity Partners LLC now owns 13,333 shares of the company's stock worth $2,166,000 after purchasing an additional 8,504 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company's stock worth $198,000 after purchasing an additional 269 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Penske Automotive Group in the fourth quarter valued at approximately $287,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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Penske Automotive Group Trading Up 1.3 %

PAG stock traded up $1.83 during mid-day trading on Tuesday, reaching $145.81. The company's stock had a trading volume of 36,456 shares, compared to its average volume of 187,243. Penske Automotive Group, Inc. has a 12 month low of $139.56 and a 12 month 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 business's 50 day moving average price is $161.83 and its 200 day moving average price is $159.44. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 10.56 and a beta of 1.24.

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

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.35%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. Penske Automotive Group's payout ratio is presently 35.49%.

Analyst Ratings Changes

Several brokerages recently weighed in on PAG. JPMorgan Chase & Co. reduced their price objective on shares of 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 started coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a "buy" rating on the stock. Stephens reissued an "equal weight" rating and issued 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 note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $166.25.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

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.