Cubist Systematic Strategies LLC Cuts Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Cubist Systematic Strategies LLC trimmed its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 65.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,092 shares of the company's stock after selling 36,088 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Penske Automotive Group were worth $2,910,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Penske Automotive Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock valued at $304,757,000 after buying an additional 12,912 shares during the period. AQR Capital Management LLC boosted its holdings in Penske Automotive Group by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 606,709 shares of the company's stock valued at $92,487,000 after acquiring an additional 20,506 shares during the last quarter. Bank of New York Mellon Corp grew its position in Penske Automotive Group by 24.4% during the fourth 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. increased its stake in Penske Automotive Group by 17.4% during the fourth 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. Finally, Bruni J V & Co. Co. raised its holdings in shares of Penske Automotive Group by 1.9% in 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. Institutional investors and hedge funds own 77.08% of the company's stock.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Barr sold 1,529 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were 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. Corporate insiders own 52.40% of the company's stock.

Penske Automotive Group Price Performance

PAG opened at $159.49 on Friday. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $180.12. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 11.60 and a beta of 0.90. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $152.50 and a 200 day simple moving average of $158.26.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.27 by $0.12. The business had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 earnings per share. Equities research analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS 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 paid a dividend of $1.22 per share. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group's dividend payout ratio is 34.37%.

Analyst Ratings Changes

PAG has been the subject of a number of research reports. StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Citigroup began coverage on shares of Penske Automotive Group in a research report on Wednesday, April 23rd. They set a "buy" rating and a $185.00 price target for the company. Finally, Stephens reissued an "equal weight" rating and issued a $140.00 price objective on shares of Penske Automotive Group in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five 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 $165.00.

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.

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