Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Vestcor Inc

Vestcor Inc boosted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 134.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,338 shares of the company's stock after purchasing an additional 5,351 shares during the period. Vestcor Inc's holdings in Penske Automotive Group were worth $1,423,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank boosted its holdings in shares of Penske Automotive Group by 0.5% in the fourth quarter. Swiss National Bank now owns 39,400 shares of the company's stock valued at $6,006,000 after acquiring an additional 200 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Penske Automotive Group by 43.5% in the fourth quarter. HighTower Advisors LLC now owns 6,198 shares of the company's stock valued at $945,000 after purchasing an additional 1,880 shares during the period. Moran Wealth Management LLC acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $14,157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Penske Automotive Group by 7.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,995 shares of the company's stock valued at $761,000 after purchasing an additional 330 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $1,605,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Insiders Place Their Bets

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the business'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. The trade was a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Barr sold 1,529 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

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Penske Automotive Group Trading Up 1.4 %

Penske Automotive Group stock traded up $2.11 during trading on Wednesday, reaching $150.49. The company had a trading volume of 244,299 shares, compared to its average volume of 207,931. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $180.12. The stock's 50 day moving average price is $163.18 and its two-hundred day moving average price is $160.04. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 10.94 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. As a group, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid 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 3.24%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's payout ratio is currently 35.49%.

Analyst Ratings Changes

Several brokerages recently commented on PAG. Stephens reiterated 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. Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a "buy" rating for the company. StockNews.com upgraded shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.