Financial Engines Advisors L.L.C. Grows Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Financial Engines Advisors L.L.C. increased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 10.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,909 shares of the company’s stock after purchasing an additional 275 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Penske Automotive Group were worth $443,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PAG. Moran Wealth Management LLC acquired a new stake in Penske Automotive Group during the 4th quarter worth $14,157,000. Bank of New York Mellon Corp lifted its stake in shares of Penske Automotive Group by 24.4% in 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 in the last quarter. American Century Companies Inc. boosted its position in Penske Automotive Group by 17.4% during the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock worth $39,560,000 after acquiring an additional 38,388 shares during the last quarter. Victory Capital Management Inc. grew its stake in Penske Automotive Group by 174.9% during the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock valued at $6,250,000 after acquiring an additional 26,085 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $3,765,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Trading Down 3.7 %

Shares of Penske Automotive Group stock opened at $144.52 on Friday. The stock has a 50 day moving average of $162.53 and a 200 day moving average of $159.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 10.51 and a beta of 1.24. Penske Automotive Group, Inc. has a fifty-two week low of $140.21 and a fifty-two week high of $180.12.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results 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. The business had revenue of $7.72 billion during 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%. As a group, research analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, February 24th. 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 3.38%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Insider Activity

In other news, Director John Barr sold 1,529 shares of Penske Automotive Group 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PAG shares. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reduced their price target on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, Stephens reissued an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday, February 18th. One research 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.25.

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.