Tower Research Capital LLC TRC Raises Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Tower Research Capital LLC TRC lifted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 160.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,125 shares of the company's stock after purchasing an additional 3,155 shares during the quarter. Tower Research Capital LLC TRC's holdings in Penske Automotive Group were worth $781,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Highland Capital Management LLC acquired a new position in Penske Automotive Group during the fourth quarter worth about $240,000. Blue Trust Inc. boosted its stake in shares of Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company's stock worth $198,000 after acquiring an additional 269 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Penske Automotive Group in the 4th quarter worth approximately $287,000. Bank of Montreal Can increased its stake in Penske Automotive Group by 6.4% in the 4th quarter. Bank of Montreal Can now owns 2,651 shares of the company's stock valued at $404,000 after purchasing an additional 160 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Penske Automotive Group by 4.7% during the fourth quarter. Rhumbline Advisers now owns 54,063 shares of the company's stock worth $8,241,000 after purchasing an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PAG shares. Citigroup started coverage on Penske Automotive Group in a report on Wednesday. They issued a "buy" rating and a $185.00 target price on the stock. Stephens reissued an "equal weight" rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $170.00.

Insider Buying and Selling

In other Penske Automotive Group 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares of the company's stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $157.58 on Friday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 11.46 and a beta of 1.03. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $180.12. 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 firm's 50-day moving average is $154.45 and its two-hundred day moving average is $158.11.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.37 by $0.17. The firm 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%. Equities analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $1.22 dividend. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's dividend payout ratio is presently 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.

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