Rhumbline Advisers Purchases 2,446 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Rhumbline Advisers boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,063 shares of the company's stock after purchasing an additional 2,446 shares during the period. Rhumbline Advisers owned about 0.08% of Penske Automotive Group worth $8,241,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PAG. GAMMA Investing LLC grew its holdings in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company's stock valued at $40,000 after acquiring an additional 81 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company's stock valued at $73,000 after acquiring an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. grew 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 position in shares of Penske Automotive Group in the 3rd quarter valued at about $94,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Penske Automotive Group in the 3rd quarter valued at about $112,000. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Stock Performance

Penske Automotive Group stock traded up $3.08 during midday trading on Friday, reaching $168.67. 303,916 shares of the company's stock were exchanged, compared to its average volume of 193,752. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 12.27 and a beta of 1.20. The stock's 50-day simple moving average is $161.79 and its 200 day simple moving average is $160.72.

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, topping the consensus estimate of $3.37 by $0.17. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. On average, analysts expect 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 will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 2.89%. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

Insiders Place Their Bets

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. Company insiders own 51.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.