ExodusPoint Capital Management LP Buys 22,890 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

ExodusPoint Capital Management LP raised its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 80.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,296 shares of the company's stock after buying an additional 22,890 shares during the period. ExodusPoint Capital Management LP owned 0.08% of Penske Automotive Group worth $7,820,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Penske Automotive Group by 62.8% during the third quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company's stock valued at $4,743,000 after purchasing an additional 11,267 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Penske Automotive Group by 4.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,665 shares of the company's stock worth $758,000 after buying an additional 196 shares in the last quarter. Captrust Financial Advisors bought a new position in Penske Automotive Group in the 3rd quarter valued at $524,000. Janus Henderson Group PLC increased its stake in shares of Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company's stock valued at $6,426,000 after buying an additional 10,663 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Penske Automotive Group during the third quarter worth $1,805,000. Institutional investors and hedge funds own 77.08% of the company's stock.

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Penske Automotive Group Trading Down 3.6 %

Shares of Penske Automotive Group stock traded down $5.53 during trading hours on Thursday, hitting $147.40. The company's stock had a trading volume of 145,797 shares, compared to its average volume of 195,062. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a 12 month low of $134.05 and a 12 month high of $180.12. The stock has a 50 day moving average of $158.39 and a 200 day moving average of $158.62. The company has a market capitalization of $9.84 billion, a PE ratio of 10.66 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $1.22 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.31%. Penske Automotive Group's payout ratio is presently 35.49%.

Wall Street Analysts Forecast Growth

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

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 firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The stock was 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. Company insiders own 51.70% of the company's stock.

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.