Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Virtu Financial LLC

Virtu Financial LLC grew its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 49.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,620 shares of the company’s stock after purchasing an additional 870 shares during the period. Virtu Financial LLC’s holdings in Penske Automotive Group were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PAG. GAMMA Investing LLC boosted its position in 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 purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Penske Automotive Group during the fourth quarter worth about $40,000. True Wealth Design LLC boosted its holdings in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. grew its holdings 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Penske Automotive Group in the third quarter valued at about $94,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Stock Down 2.5 %

Penske Automotive Group stock opened at $150.06 on Thursday. The company has a market capitalization of $10.02 billion, a P/E ratio of 10.91 and a beta of 1.24. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $180.12. The stock has a 50-day simple moving average of $163.03 and a 200-day simple moving average of $159.62. 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 (NYSE:PAG) last issued its quarterly earnings results 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 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 research analysts expect 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. Stockholders of record on Monday, February 24th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.25%. This is a positive change 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 35.49%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Penske Automotive Group

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 shares were sold at an average price of $173.03, for a total transaction 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 approximately $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 SEC, which is accessible through this link. 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. 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.