Proficio Capital Partners LLC Takes $3.77 Million Position in Penske Automotive Group, Inc. (NYSE:PAG)

Proficio Capital Partners LLC acquired a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,695 shares of the company’s stock, valued at approximately $3,765,000.

Several other institutional investors have also bought and sold shares of PAG. Victory Capital Management Inc. raised its position in shares of Penske Automotive Group by 174.9% during the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock worth $6,250,000 after buying an additional 26,085 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Penske Automotive Group by 13.0% during the fourth quarter. Bahl & Gaynor Inc. now owns 82,535 shares of the company’s stock valued at $12,582,000 after acquiring an additional 9,512 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Penske Automotive Group by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,579 shares of the company’s stock worth $22,192,000 after purchasing an additional 1,829 shares in the last quarter. Pacific Global Investment Management Co. raised its holdings in Penske Automotive Group by 3.3% during the fourth quarter. Pacific Global Investment Management Co. now owns 11,818 shares of the company’s stock worth $1,801,000 after purchasing an additional 375 shares in the last quarter. Finally, Bruni J V & Co. Co. lifted its position in Penske Automotive Group by 1.9% in the fourth quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company’s stock worth $30,510,000 after purchasing an additional 3,738 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 1.3 %

Shares of Penske Automotive Group stock opened at $149.92 on Tuesday. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $180.12. The firm has a market capitalization of $10.01 billion, a PE ratio of 10.90 and a beta of 1.24. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $163.24 and its 200-day moving average is $160.32.

Penske Automotive Group (NYSE:PAG) last issued 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 return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.26%. 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 35.49%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Barr sold 1,529 shares of the company’s 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. Company insiders own 51.70% of the company’s stock.

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.