Janus Henderson Group PLC Increases Position in Penske Automotive Group, Inc. (NYSE:PAG)

Janus Henderson Group PLC raised its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,552 shares of the company's stock after purchasing an additional 5,983 shares during the period. Janus Henderson Group PLC owned 0.07% of Penske Automotive Group worth $6,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Penske Automotive Group by 65.6% in the third quarter. Franklin Resources Inc. now owns 12,316 shares of the company's stock worth $1,906,000 after buying an additional 4,877 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Penske Automotive Group in the fourth quarter worth about $287,000. Nisa Investment Advisors LLC lifted its stake in shares of Penske Automotive Group by 18.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 25,916 shares of the company's stock worth $3,951,000 after buying an additional 4,000 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Penske Automotive Group by 19.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,767 shares of the company's stock worth $8,501,000 after buying an additional 9,199 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Penske Automotive Group by 7.8% in the fourth quarter. Inspire Investing LLC now owns 6,164 shares of the company's stock worth $940,000 after buying an additional 445 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Penske Automotive Group

In related news, 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 transaction of $237,683.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 51.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PAG shares. Stephens reissued an "equal weight" rating and issued a $140.00 price target on shares of Penske Automotive Group in a research note on Monday, May 5th. 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. cut 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. Finally, Citigroup raised their price objective 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Penske Automotive Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.00.

Penske Automotive Group Trading Down 0.3%

Penske Automotive Group stock traded down $0.46 during midday trading on Friday, hitting $162.20. 198,411 shares of the stock were exchanged, compared to its average volume of 196,108. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week high of $180.12. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 11.80 and a beta of 0.90. The stock's 50-day simple moving average is $153.82 and its 200 day simple moving average is $159.05. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share for the quarter, beating analysts' consensus estimates of $3.27 by $0.12. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.60 billion during the quarter, compared to analysts' expectations of $7.68 billion. During the same period last year, the business earned $3.21 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Penske Automotive Group Increases Dividend

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

About Penske Automotive Group

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.