3,270 Shares in Penske Automotive Group, Inc. $PAG Purchased by Trexquant Investment LP

Trexquant Investment LP purchased a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,270 shares of the company's stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAG. UMB Bank n.a. boosted its position in Penske Automotive Group by 421.5% during the first quarter. UMB Bank n.a. now owns 339 shares of the company's stock valued at $49,000 after purchasing an additional 274 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Penske Automotive Group by 51.9% in the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company's stock valued at $57,000 after purchasing an additional 136 shares during the last quarter. Brooklyn Investment Group lifted its stake in Penske Automotive Group by 353.0% during the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company's stock worth $65,000 after acquiring an additional 353 shares in the last quarter. Fifth Third Bancorp raised its position in Penske Automotive Group by 31.0% in the 1st quarter. Fifth Third Bancorp now owns 528 shares of the company's stock valued at $76,000 after purchasing an additional 125 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Penske Automotive Group in the 4th quarter valued at about $105,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PAG. Morgan Stanley lifted their price target on Penske Automotive Group from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Citigroup upped their price objective on Penske Automotive Group from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Bank of America increased their price target on Penske Automotive Group from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. raised shares of Penske Automotive Group from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, August 5th. Finally, Stephens restated an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a research note on Wednesday, June 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $181.00.

Insider Transactions at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 1,100 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total value of $200,805.00. Following the completion of the sale, the chief financial officer directly owned 18,922 shares of the company's stock, valued at $3,454,211.10. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa Ann Davis sold 1,604 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the completion of the transaction, the director owned 1,529 shares in the company, valued at approximately $276,351.46. This trade represents a 51.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.70% of the company's stock.

Penske Automotive Group Trading Down 3.1%

Shares of PAG stock traded down $5.72 during trading hours on Friday, hitting $179.69. 258,715 shares of the company's stock traded hands, compared to its average volume of 187,144. Penske Automotive Group, Inc. has a 12 month low of $134.05 and a 12 month high of $189.51. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $179.01 and its 200 day simple moving average is $166.55. The stock has a market cap of $11.87 billion, a PE ratio of 12.50 and a beta of 0.89.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 EPS for the quarter, beating the consensus estimate of $3.56 by $0.22. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.98 billion. During the same quarter last year, the business posted $3.61 EPS. The company's revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 15th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.26. Penske Automotive Group's dividend payout ratio (DPR) is 36.74%.

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.