Bahl & Gaynor Inc. Has $12.58 Million Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Bahl & Gaynor Inc. boosted its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 13.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 82,535 shares of the company’s stock after acquiring an additional 9,512 shares during the period. Bahl & Gaynor Inc.’s holdings in Penske Automotive Group were worth $12,582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wealthspire Advisors LLC raised its stake in Penske Automotive Group by 2.4% in the 4th quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares in the last quarter. CIBC Asset Management Inc raised its stake in Penske Automotive Group by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock worth $316,000 after purchasing an additional 69 shares in the last quarter. Blue Chip Partners LLC raised its stake in Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after purchasing an additional 73 shares in the last quarter. GAMMA Investing LLC raised its stake in Penske Automotive Group by 44.8% in the 4th 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. Finally, Quantinno Capital Management LP raised its stake in Penske Automotive Group by 0.5% in the 3rd quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analysts Set New Price Targets

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

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $163.43 on Wednesday. The firm has a 50 day moving average of $162.02 and a 200-day moving average of $160.71. The stock has a market capitalization of $10.91 billion, a PE ratio of 11.89 and a beta of 1.20. 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, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced 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. 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%. On average, equities research analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 2.99%. Penske Automotive Group’s payout ratio is 35.49%.

Insider Activity at Penske Automotive Group

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 transaction 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. The trade was a 23.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 51.70% of the stock is currently owned by insiders.

Penske Automotive Group 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.