Two Sigma Advisers LP Has $3.14 Million Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Two Sigma Advisers LP raised its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,600 shares of the company's stock after purchasing an additional 3,500 shares during the quarter. Two Sigma Advisers LP's holdings in Penske Automotive Group were worth $3,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highland Capital Management LLC bought a new stake in shares of Penske Automotive Group during the 4th quarter worth about $240,000. Blue Trust Inc. boosted its stake in shares of Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company's stock worth $198,000 after acquiring an additional 269 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Penske Automotive Group by 6.4% during the 4th quarter. Bank of Montreal Can now owns 2,651 shares of the company's stock worth $404,000 after acquiring an additional 160 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Penske Automotive Group by 4.7% during the 4th quarter. Rhumbline Advisers now owns 54,063 shares of the company's stock worth $8,241,000 after acquiring an additional 2,446 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Penske Automotive Group by 33.5% during the 4th quarter. KBC Group NV now owns 749 shares of the company's stock worth $114,000 after acquiring an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Insider Buying and Selling at Penske Automotive Group

In other news, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 52.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PAG shares. Stephens reiterated an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Wall Street Zen upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Finally, Citigroup increased their target price 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. 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $167.00.

Penske Automotive Group Stock Performance

Penske Automotive Group stock traded down $0.65 during trading hours on Thursday, hitting $162.49. The stock had a trading volume of 184,398 shares, compared to its average volume of 196,432. The company has a 50-day moving average of $154.60 and a two-hundred day moving average of $159.11. 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 company has a market cap of $10.75 billion, a PE ratio of 11.82 and a beta of 0.90. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.27 by $0.12. The firm had revenue of $7.60 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 EPS. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

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

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th will be issued a $1.26 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $5.04 annualized dividend and a yield of 3.10%. Penske Automotive Group's dividend payout ratio is 35.49%.

Penske Automotive Group 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.