Teacher Retirement System of Texas Has $1.58 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Teacher Retirement System of Texas lifted its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 80.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,367 shares of the company's stock after buying an additional 4,607 shares during the quarter. Teacher Retirement System of Texas' holdings in Penske Automotive Group were worth $1,580,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PAG. Bank of New York Mellon Corp increased its stake in shares of Penske Automotive Group by 24.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after purchasing an additional 51,720 shares during the last quarter. Bruni J V & Co. Co. raised its stake in Penske Automotive Group by 1.9% in the fourth quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company's stock valued at $30,510,000 after buying an additional 3,738 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in shares of Penske Automotive Group by 0.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company's stock valued at $27,891,000 after buying an additional 1,486 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Penske Automotive Group by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 145,579 shares of the company's stock worth $22,192,000 after acquiring an additional 1,829 shares during the period. Finally, Moran Wealth Management LLC acquired a new position in shares of Penske Automotive Group during the 4th quarter worth approximately $14,157,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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Penske Automotive Group Price Performance

NYSE PAG traded up $1.77 during midday trading on Tuesday, hitting $145.75. The company had a trading volume of 146,973 shares, compared to its average volume of 187,572. The firm has a 50-day moving average price of $161.83 and a 200-day moving average price of $159.44. The company has a market capitalization of $9.73 billion, a PE ratio of 10.62 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a twelve month low of $139.56 and a twelve month high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping 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 business had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.56 billion. As a group, analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed 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 an increase from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.35%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's payout ratio is currently 35.49%.

Insiders Place Their Bets

In other news, Director John Barr sold 1,529 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction on 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 completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 51.70% of the company's stock.

Analyst Ratings Changes

PAG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased 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 report on Thursday, March 27th. Benchmark assumed coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a "buy" rating on the stock. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Stephens reissued 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 assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $166.25.

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.