Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 174.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,998 shares of the company’s stock after purchasing an additional 26,085 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Penske Automotive Group worth $6,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PAG. Bahl & Gaynor Inc. lifted its holdings in Penske Automotive Group by 13.0% in 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Penske Automotive Group by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,579 shares of the company’s stock valued at $22,192,000 after purchasing an additional 1,829 shares during the period. Pacific Global Investment Management Co. lifted its stake in shares of Penske Automotive Group by 3.3% in the 4th quarter. Pacific Global Investment Management Co. now owns 11,818 shares of the company’s stock valued at $1,801,000 after purchasing an additional 375 shares during the last quarter. Bruni J V & Co. Co. grew its holdings in shares of Penske Automotive Group by 1.9% during the 4th 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. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Penske Automotive Group during the 4th quarter worth about $3,765,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased 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. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating on the stock. One investment 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.com, Penske Automotive Group has a consensus rating of “Moderate Buy” and an average price target of $172.50.

Penske Automotive Group Stock Down 0.5 %

Shares of PAG opened at $148.24 on Friday. The company’s 50-day simple moving average is $163.29 and its 200-day simple moving average is $160.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12. The stock has a market capitalization of $9.89 billion, a PE ratio of 10.78 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG) last released 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. The company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. Analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.29%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. Penske Automotive Group’s payout ratio is presently 35.49%.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction that occurred on 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 transaction, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Barr sold 1,529 shares of the 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. 51.70% of the stock is currently owned by insiders.

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.