Tudor Investment Corp ET AL Purchases 4,966 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Tudor Investment Corp ET AL grew its position in Penske Automotive Group, Inc. (NYSE:PAG) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,943 shares of the company’s stock after acquiring an additional 4,966 shares during the period. Tudor Investment Corp ET AL owned 0.15% of Penske Automotive Group worth $15,235,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PAG. Norges Bank bought a new position in shares of Penske Automotive Group in the fourth quarter valued at approximately $22,049,000. Moran Wealth Management LLC bought a new position in Penske Automotive Group in the 4th quarter worth approximately $14,157,000. Bank of New York Mellon Corp raised its position in Penske Automotive Group by 24.4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock worth $40,179,000 after purchasing an additional 51,720 shares during the last quarter. American Century Companies Inc. raised its position in Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock worth $39,560,000 after purchasing an additional 38,388 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Penske Automotive Group by 174.9% in the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock worth $6,250,000 after purchasing an additional 26,085 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Barr sold 1,529 shares of the stock in a transaction dated 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PAG shares. JPMorgan Chase & Co. dropped their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Citigroup started coverage on shares of Penske Automotive Group in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $185.00 price objective for the company. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and an average target price of $170.00.

Penske Automotive Group Trading Up 0.4 %

NYSE PAG opened at $157.91 on Tuesday. The stock has a 50-day simple moving average of $154.21 and a 200 day simple moving average of $158.16. The company has a market capitalization of $10.54 billion, a PE ratio of 11.48 and a beta of 1.03. 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 $134.05 and a 12 month high of $180.12.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Research analysts forecast 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. Investors of record on Monday, February 24th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

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.