Blue Trust Inc. Lowers Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Blue Trust Inc. decreased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 678 shares of the company’s stock after selling 274 shares during the quarter. Blue Trust Inc.’s holdings in Penske Automotive Group were worth $103,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Penske Automotive Group by 4.1% in the 3rd quarter. Citigroup Inc. now owns 63,548 shares of the company’s stock worth $10,321,000 after purchasing an additional 2,475 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Penske Automotive Group by 12,674.5% in the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock worth $9,606,000 after acquiring an additional 58,683 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Penske Automotive Group by 19.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,767 shares of the company’s stock worth $8,501,000 after acquiring an additional 9,199 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after acquiring an additional 10,663 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Penske Automotive Group by 62.8% in the third quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company’s stock worth $4,743,000 after acquiring an additional 11,267 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Insider Activity at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the company’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 transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 51.70% of the stock is owned by insiders.

Penske Automotive Group Stock Down 2.6 %

Shares of NYSE:PAG opened at $163.54 on Friday. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $180.12. The stock has a market cap of $10.92 billion, a P/E ratio of 11.89 and a beta of 1.20. The business’s 50 day moving average is $161.04 and its 200 day moving average is $160.51. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last posted its 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 company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.98%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio is presently 34.62%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $172.50.

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.