Versor Investments LP Reduces Position in Penske Automotive Group, Inc. (NYSE:PAG)

Versor Investments LP reduced its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 30.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,606 shares of the company's stock after selling 2,021 shares during the period. Versor Investments LP's holdings in Penske Automotive Group were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PAG. Janus Henderson Group PLC grew its position in Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company's stock worth $6,426,000 after acquiring an additional 10,663 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of Penske Automotive Group in the 4th quarter valued at approximately $240,000. Cerity Partners LLC boosted its holdings in shares of Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company's stock worth $2,166,000 after purchasing an additional 8,504 shares during the period. Blue Trust Inc. increased its position 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 valued at $198,000 after purchasing an additional 269 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Penske Automotive Group by 188.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company's stock valued at $1,134,000 after buying an additional 4,559 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Insider Transactions at Penske Automotive Group

In related news, 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 transaction, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 51.70% of the company's stock.

Penske Automotive Group Stock Down 2.0 %

Shares of PAG stock traded down $3.29 on Tuesday, hitting $164.51. The stock had a trading volume of 135,190 shares, compared to its average volume of 175,339. 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 business has a 50 day moving average price of $162.02 and a 200 day moving average price of $160.71. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $180.12. The company has a market cap of $10.98 billion, a PE ratio of 12.01 and a beta of 1.20.

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, beating the consensus estimate of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Research 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 declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a $1.22 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group's dividend payout ratio (DPR) is currently 35.49%.

Analysts Set New Price Targets

PAG has been the topic of a number of recent analyst reports. Stephens reissued an "equal weight" rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating for the company. Finally, StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Penske Automotive Group has an average rating of "Moderate Buy" and a consensus price target 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.