Applied Capital LLC FL Buys 2,149 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Applied Capital LLC FL boosted its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,749 shares of the company's stock after purchasing an additional 2,149 shares during the quarter. Penske Automotive Group comprises 2.7% of Applied Capital LLC FL's portfolio, making the stock its 8th largest position. Applied Capital LLC FL's holdings in Penske Automotive Group were worth $3,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Penske Automotive Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock worth $304,757,000 after purchasing an additional 12,912 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Penske Automotive Group by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company's stock worth $122,998,000 after purchasing an additional 13,106 shares during the last quarter. 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 worth $92,487,000 after purchasing an additional 20,506 shares during the last quarter. American Century Companies Inc. boosted its holdings in Penske Automotive Group by 17.4% in the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock worth $39,560,000 after purchasing an additional 38,388 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in Penske Automotive Group by 0.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company's stock worth $27,891,000 after purchasing an additional 1,486 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Insider Activity

In related news, Director Greg C. Smith sold 1,529 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $161.64, for a total value of $247,147.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Shane M. Spradlin sold 3,158 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $167.10, for a total transaction of $527,701.80. Following the sale, the executive vice president directly owned 36,152 shares in the company, valued at approximately $6,040,999.20. The trade was a 8.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,044 shares of company stock valued at $13,257,948. 51.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAG. Bank of America increased their price target on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup raised their price objective on shares of Penske Automotive Group from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Finally, Stephens reiterated an "equal weight" rating and issued a $140.00 price target on shares of Penske Automotive Group in a report on Wednesday, June 11th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $172.00.

Penske Automotive Group Stock Performance

Shares of PAG stock traded down $5.99 during trading hours on Tuesday, hitting $177.03. The company's stock had a trading volume of 206,382 shares, compared to its average volume of 205,240. The company has a 50 day moving average of $168.74 and a 200 day moving average of $161.33. The stock has a market cap of $11.71 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. The company has a current ratio of 0.90, a quick ratio of 0.23 and a debt-to-equity ratio of 0.18. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $186.33.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $0.12. The company had revenue of $7.60 billion during the quarter, compared to analysts' expectations of $7.68 billion. Penske Automotive Group had a net margin of 3.10% and a return on equity of 17.80%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.21 earnings per share. On average, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th were paid a $1.26 dividend. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.22. The ex-dividend date was Tuesday, May 27th. This represents a $5.04 annualized dividend and a dividend yield of 2.85%. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.

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.