Y Intercept Hong Kong Ltd Decreases Position in Penske Automotive Group, Inc. (NYSE:PAG)

Y Intercept Hong Kong Ltd trimmed its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,446 shares of the company's stock after selling 2,967 shares during the period. Y Intercept Hong Kong Ltd's holdings in Penske Automotive Group were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after buying an additional 81 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company's stock worth $73,000 after buying an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its position in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock worth $74,000 after buying an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $94,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $112,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Trading Up 1.9 %

Shares of PAG traded up $3.08 during mid-day trading on Friday, reaching $168.67. 303,916 shares of the company's stock traded hands, compared to its average volume of 193,752. The stock has a market cap of $11.26 billion, a P/E ratio of 12.27 and a beta of 1.20. The stock's 50-day moving average is $161.79 and its two-hundred day moving average is $160.72. Penske Automotive Group, Inc. has a 12 month low of $142.32 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.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced 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. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. Research analysts forecast 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 will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $1.22 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 2.89%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio is 35.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Stephens reiterated an "equal weight" rating and issued a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $172.50.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 51.70% of the stock is owned by insiders.

Penske Automotive Group Company 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.