Aigen Investment Management LP Trims Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Aigen Investment Management LP cut its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 36.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,868 shares of the company's stock after selling 2,257 shares during the quarter. Aigen Investment Management LP's holdings in Penske Automotive Group were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after buying an additional 81 shares in the last quarter. True Wealth Design LLC increased its stake in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company's stock worth $73,000 after acquiring an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its holdings in shares of Penske Automotive Group by 45,300.0% in the 3rd 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 bought a new stake in shares of Penske Automotive Group during the 3rd quarter valued at about $94,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Penske Automotive Group during the third quarter worth about $112,000. 77.08% of the stock is owned by institutional investors.

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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 company's stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.70% of the stock is currently owned by corporate insiders.

Penske Automotive Group Trading Down 0.9 %

Shares of PAG traded down $1.45 during trading hours on Monday, hitting $167.75. The company had a trading volume of 252,197 shares, compared to its average volume of 199,887. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $180.12. 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 50 day moving average price is $162.77 and its 200 day moving average price is $160.73. The firm has a market cap of $11.20 billion, a P/E ratio of 12.20 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. On average, research 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 declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. This is a positive change 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 dividend on an annualized basis and a yield of 2.91%. Penske Automotive Group's dividend payout ratio is presently 35.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Benchmark initiated coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating for the company. 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 research note on Wednesday, February 19th. Finally, Stephens reaffirmed 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of "Moderate Buy" and an average price target of $172.50.

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.