Deutsche Bank AG Purchases 1,770 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Deutsche Bank AG grew its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,176 shares of the company's stock after purchasing an additional 1,770 shares during the period. Deutsche Bank AG's holdings in Penske Automotive Group were worth $3,381,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wealthspire Advisors LLC raised its position in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company's stock valued at $417,000 after purchasing an additional 63 shares during the period. Blue Chip Partners LLC raised its holdings in shares of Penske Automotive Group by 0.7% during the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company's stock valued at $1,617,000 after buying an additional 73 shares during the period. CIBC Asset Management Inc lifted its position in Penske Automotive Group by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 2,055 shares of the company's stock worth $313,000 after acquiring an additional 109 shares in the last quarter. Xponance Inc. boosted its holdings in Penske Automotive Group by 4.0% in the 4th quarter. Xponance Inc. now owns 2,995 shares of the company's stock worth $457,000 after acquiring an additional 115 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Penske Automotive Group by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 35,579 shares of the company's stock worth $5,424,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered their price target on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Stephens restated an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Insiders Place Their Bets

In related news, Director John Barr sold 1,529 shares of the business's 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 51.70% of the company's stock.

Penske Automotive Group Stock Down 0.3%

Shares of Penske Automotive Group stock traded down $0.46 during midday trading on Monday, hitting $162.20. The company's stock had a trading volume of 198,411 shares, compared to its average volume of 196,505. The firm has a market capitalization of $10.73 billion, a P/E ratio of 11.80 and a beta of 0.90. Penske Automotive Group, Inc. has a 1-year low of $134.05 and a 1-year high of $180.12. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $154.05 and a 200-day simple moving average of $159.05.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.60 billion during the quarter, compared to analysts' expectations of $7.68 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th will be issued a dividend of $1.26 per share. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.22. This represents a $5.04 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, May 27th. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

Penske Automotive Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

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.