24,695 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,695 shares of the company's stock, valued at approximately $3,765,000.

A number of other institutional investors have also modified their holdings of the stock. Wealthspire Advisors LLC grew its holdings in Penske Automotive Group by 2.4% during the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company's stock worth $417,000 after acquiring an additional 63 shares during the period. CIBC Asset Management Inc grew its holdings in Penske Automotive Group by 3.7% during the third quarter. CIBC Asset Management Inc now owns 1,946 shares of the company's stock worth $316,000 after acquiring an additional 69 shares during the period. Blue Chip Partners LLC grew its holdings in Penske Automotive Group by 0.7% during the fourth quarter. Blue Chip Partners LLC now owns 10,606 shares of the company's stock worth $1,617,000 after acquiring an additional 73 shares during the period. GAMMA Investing LLC grew its holdings in Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Penske Automotive Group by 0.5% during the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company's stock worth $2,704,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

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Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated 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 directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 51.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PAG shares. JPMorgan Chase & Co. upped their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Benchmark initiated coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating on the stock. Finally, Stephens reissued an "equal weight" rating and issued a $165.00 target price 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 assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $172.50.

Penske Automotive Group Price Performance

Penske Automotive Group stock traded up $2.18 during trading hours on Friday, hitting $168.98. The stock had a trading volume of 247,394 shares, compared to its average volume of 175,490. 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 stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 12.29 and a beta of 1.24. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $180.12. The stock's fifty day moving average is $162.77 and its two-hundred day moving average is $160.80.

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, beating 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 business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. As a group, analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $1.22 dividend. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's dividend payout ratio is currently 35.49%.

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.