Mutual of America Capital Management LLC Cuts Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Mutual of America Capital Management LLC lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,876 shares of the company’s stock after selling 230 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Penske Automotive Group were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the period. True Wealth Design LLC grew its stake in shares of Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Penske Automotive Group during the third quarter worth $94,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Penske Automotive Group during the third quarter worth $112,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Insider Transactions 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 transaction 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 represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 51.70% of the company’s stock.

Analysts Set New Price Targets

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

Penske Automotive Group Stock Performance

NYSE PAG opened at $168.98 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12. The company has a market capitalization of $11.28 billion, a PE ratio of 12.29 and a beta of 1.24. The company has a fifty day moving average of $162.77 and a two-hundred day moving average of $160.80.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. As a group, analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a dividend of $1.22 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a dividend yield of 2.89%. Penske Automotive Group’s dividend payout ratio is 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.