Securian Asset Management Inc. Decreases Position in Penske Automotive Group, Inc. (NYSE:PAG)

Securian Asset Management Inc. decreased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,347 shares of the company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Penske Automotive Group were worth $205,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PAG. Moran Wealth Management LLC acquired a new position in Penske Automotive Group during the fourth quarter worth approximately $14,157,000. Bank of New York Mellon Corp increased its position in Penske Automotive Group by 24.4% during the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock worth $40,179,000 after buying an additional 51,720 shares during the period. Victory Capital Management Inc. increased its position in Penske Automotive Group by 174.9% during the fourth quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock worth $6,250,000 after buying an additional 26,085 shares during the period. Proficio Capital Partners LLC acquired a new position in Penske Automotive Group during the fourth quarter worth approximately $3,765,000. Finally, Raymond James Financial Inc. acquired a new position in Penske Automotive Group during the fourth quarter worth approximately $3,018,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Trading Down 0.8 %

Shares of PAG stock opened at $148.52 on Wednesday. The business’s fifty day moving average price is $163.18 and its 200 day moving average price is $160.04. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $180.12. The firm has a market capitalization of $9.91 billion, a PE ratio of 10.80 and a beta of 1.24. 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) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS 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. Investors of record on Monday, February 24th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Wall Street Analysts Forecast Growth

PAG has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Benchmark initiated coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Stephens reissued an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Penske Automotive Group currently has an average rating of “Moderate Buy” and an average target price of $172.50.

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 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 sale, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

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.