Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 17.4% in the 4th quarter, Holdings Channel reports. The firm owned 259,513 shares of the company’s stock after purchasing an additional 38,388 shares during the period. American Century Companies Inc.’s holdings in Penske Automotive Group were worth $39,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Penske Automotive Group by 36.9% during the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after buying an additional 10,663 shares during the period. Highland Capital Management LLC purchased a new position in Penske Automotive Group during the 4th quarter valued at about $240,000. Cerity Partners LLC grew its position in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock valued at $2,166,000 after acquiring an additional 8,504 shares in the last quarter. Blue Trust Inc. increased its stake in Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after purchasing an additional 269 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth about $287,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Insider Activity at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on 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. The trade was a 23.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Barr sold 1,529 shares of the stock in a transaction 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 corporate insiders.

Penske Automotive Group Trading Down 3.7 %

Shares of NYSE:PAG opened at $144.52 on Friday. The company has a market cap of $9.65 billion, a PE ratio of 10.51 and a beta of 1.24. The company’s 50 day moving average is $162.53 and its two-hundred day moving average is $159.45. Penske Automotive Group, Inc. has a 52 week low of $140.21 and a 52 week high of $180.12. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate of $3.37 by $0.17. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Equities analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal 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 given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Benchmark began coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Stephens restated an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.25.

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.