Quantbot Technologies LP Makes New Investment in Penske Automotive Group, Inc. (NYSE:PAG)

Quantbot Technologies LP purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,054 shares of the company’s stock, valued at approximately $1,533,000.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its position in Penske Automotive Group by 36.9% during the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after purchasing an additional 10,663 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Penske Automotive Group in the fourth quarter worth $240,000. Cerity Partners LLC grew its stake in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock valued at $2,166,000 after buying an additional 8,504 shares during the last quarter. Blue Trust Inc. raised its holdings in Penske Automotive Group by 28.3% in the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after acquiring an additional 269 shares during the period. Finally, Merit Financial Group LLC bought a new position in Penske Automotive Group in the 4th quarter worth $287,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of PAG stock opened at $154.31 on Tuesday. The company has a market capitalization of $10.30 billion, a P/E ratio of 11.22 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12. The stock has a 50 day moving average of $163.07 and a two-hundred day moving average of $159.64.

Penske Automotive Group (NYSE:PAG) last posted 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. 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 for 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 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $1.22 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Monday, February 24th. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Benchmark started coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Stephens reiterated an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Penske Automotive Group has an average rating of “Moderate Buy” and an average price target of $172.50.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is currently 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.