Financial Engines Advisors L.L.C. Raises Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Financial Engines Advisors L.L.C. lifted its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 10.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,909 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Penske Automotive Group were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PAG. Moran Wealth Management LLC purchased a new position in shares of Penske Automotive Group in the fourth quarter worth $14,157,000. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 24.4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after acquiring an additional 51,720 shares during the period. American Century Companies Inc. raised its stake in Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock worth $39,560,000 after acquiring an additional 38,388 shares during the last quarter. Victory Capital Management Inc. raised its stake in Penske Automotive Group by 174.9% in the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock worth $6,250,000 after acquiring an additional 26,085 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in 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

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

Penske Automotive Group Stock Down 3.7 %

Shares of PAG stock opened at $144.52 on Friday. Penske Automotive Group, Inc. has a twelve month low of $140.21 and a twelve month high of $180.12. The stock has a market cap of $9.65 billion, a P/E ratio of 10.51 and a beta of 1.24. The stock has a 50 day moving average of $162.53 and a 200 day moving average of $159.45. 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 earnings per share 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 firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a $1.22 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is 35.49%.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction 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 sale, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Barr sold 1,529 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was 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. Corporate insiders own 51.70% of the company’s stock.

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.