Kapitalo Investimentos Ltda Sells 2,630 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Kapitalo Investimentos Ltda lowered its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 78.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 743 shares of the company's stock after selling 2,630 shares during the period. Kapitalo Investimentos Ltda's holdings in Penske Automotive Group were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group during the fourth quarter worth about $40,000. Headlands Technologies LLC acquired a new position in Penske Automotive Group in the fourth quarter valued at about $76,000. TD Waterhouse Canada Inc. increased its holdings in shares of Penske Automotive Group by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company's stock worth $81,000 after acquiring an additional 158 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group in the third quarter worth about $94,000. 77.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PAG shares. Stephens reiterated an "equal weight" rating and issued a $140.00 price target on shares of Penske Automotive Group in a report on Monday. JPMorgan Chase & Co. lowered their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup started coverage on Penske Automotive Group in a report on Wednesday, April 23rd. They set a "buy" rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Penske Automotive Group currently has a consensus rating of "Moderate Buy" and an average price target of $165.00.

Insiders Place Their Bets

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company's stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company's stock.

Penske Automotive Group Price Performance

NYSE PAG traded down $0.70 on Tuesday, hitting $155.53. 30,454 shares of the company's stock were exchanged, compared to its average volume of 194,497. The stock has a 50-day moving average of $153.22 and a 200-day moving average of $158.16. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 11.32 and a beta of 1.03. 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, Inc. has a 52 week low of $134.05 and a 52 week high of $180.12.

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

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a dividend of $1.22 per share. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group's dividend payout ratio is 34.37%.

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.