4,100 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,100 shares of the company’s stock, valued at approximately $625,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PAG. GAMMA Investing LLC increased its holdings in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Penske Automotive Group during the fourth quarter valued at $40,000. Wilmington Savings Fund Society FSB bought a new stake in Penske Automotive Group during the third quarter valued at $94,000. KBC Group NV raised its holdings in shares of Penske Automotive Group by 33.5% during the fourth quarter. KBC Group NV now owns 749 shares of the company’s stock worth $114,000 after purchasing an additional 188 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of 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 buying an additional 269 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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. 52.40% of the stock is currently owned by corporate insiders.

Penske Automotive Group Stock Up 2.2 %

PAG opened at $149.56 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a market capitalization of $9.98 billion, a PE ratio of 10.88 and a beta of 1.24. The stock’s fifty day moving average is $161.27 and its 200-day moving average is $159.33. Penske Automotive Group, Inc. has a one year low of $139.56 and a one year high of $180.12.

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

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid 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 a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s payout ratio is presently 35.49%.

Wall Street Analysts Forecast Growth

PAG has been the subject of a number of recent research reports. Stephens reaffirmed an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Finally, Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Moderate Buy” and an average target price of $166.25.

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.