Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 259,513 shares of the company’s stock after buying an additional 38,388 shares during the quarter. American Century Companies Inc. owned approximately 0.39% of Penske Automotive Group worth $39,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAG. Virtu Financial LLC grew its position in shares of Penske Automotive Group by 49.7% during the 4th quarter. Virtu Financial LLC now owns 2,620 shares of the company’s stock valued at $399,000 after acquiring an additional 870 shares during the period. Quantbot Technologies LP acquired a new stake in Penske Automotive Group in the fourth quarter valued at approximately $1,533,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at approximately $40,000. Teacher Retirement System of Texas raised its stake in shares of Penske Automotive Group by 80.0% during the 4th quarter. Teacher Retirement System of Texas now owns 10,367 shares of the company’s stock worth $1,580,000 after buying an additional 4,607 shares during the period. Finally, Investment House LLC purchased a new position in shares of Penske Automotive Group during the 4th quarter valued at approximately $202,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analyst Ratings Changes

PAG has been the subject of several recent analyst reports. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Stephens restated an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, Benchmark started coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Penske Automotive Group Stock Performance

PAG opened at $144.52 on Friday. Penske Automotive Group, Inc. has a twelve month low of $140.21 and a twelve month high of $180.12. The firm has a market capitalization of $9.65 billion, a PE ratio of 10.51 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. The firm’s 50-day moving average price is $162.53 and its 200 day moving average price is $159.45.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share 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 business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $1.22 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, February 24th. Penske Automotive Group’s dividend payout ratio is presently 35.49%.

Insiders Place Their Bets

In other news, EVP Claude H. Denker III sold 8,746 shares of the firm’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 owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were 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. Corporate insiders own 51.70% of the company’s stock.

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.