CIBC Asset Management Inc Has $313,000 Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

CIBC Asset Management Inc lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,055 shares of the company’s stock after purchasing an additional 109 shares during the quarter. CIBC Asset Management Inc’s holdings in Penske Automotive Group were worth $313,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PAG. GAMMA Investing LLC raised its stake in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares during the last quarter. True Wealth Design LLC raised its position in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after buying an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position in Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Penske Automotive Group during the 3rd quarter valued at $94,000. Finally, Capital Performance Advisors LLP purchased a new position in Penske Automotive Group during the 3rd quarter worth $112,000. 77.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Penske Automotive Group

In other 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 sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Up 0.8 %

Penske Automotive Group stock opened at $164.83 on Tuesday. The firm has a 50 day moving average price of $161.05 and a 200-day moving average price of $160.54. 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, Inc. has a twelve month low of $142.32 and a twelve month high of $180.12. The company has a market capitalization of $11.01 billion, a P/E ratio of 11.99 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. As a group, equities analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 2.96%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PAG shares. Benchmark assumed coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating for the company. Stephens reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. 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 company. According to data from MarketBeat, Penske Automotive Group presently has an average rating of “Moderate Buy” and a consensus target price of $172.50.

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.