Jump Financial LLC Buys Shares of 9,354 Penske Automotive Group, Inc. (NYSE:PAG)

Jump Financial LLC bought a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,354 shares of the company's stock, valued at approximately $1,501,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAG. Invesco Ltd. grew its holdings in Penske Automotive Group by 164.3% during the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company's stock worth $48,908,000 after acquiring an additional 181,995 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Penske Automotive Group by 4,712.6% in the third quarter. Principal Financial Group Inc. now owns 72,044 shares of the company's stock valued at $12,036,000 after buying an additional 70,547 shares during the last quarter. International Assets Investment Management LLC raised its stake in Penske Automotive Group by 15,960.7% in the fourth quarter. International Assets Investment Management LLC now owns 66,973 shares of the company's stock valued at $10,750,000 after buying an additional 66,556 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Penske Automotive Group by 206.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 73,531 shares of the company's stock worth $12,284,000 after buying an additional 49,544 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Penske Automotive Group by 127.5% during the 3rd quarter. UBS Group AG now owns 84,740 shares of the company's stock worth $14,157,000 after acquiring an additional 47,488 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the sale, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now owns 716 shares of the company's stock, valued at $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Smith sold 1,604 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the transaction, the director now directly owns 51,001 shares of the company's stock, valued at $7,618,529.38. The disclosure for this sale can be found here. Insiders own 52.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PAG shares. Morgan Stanley boosted their target price on Penske Automotive Group from $107.00 to $115.00 and gave the stock an "underweight" rating in a research note on Thursday, February 29th. Bank of America upped their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $163.20.

Penske Automotive Group Stock Performance

PAG traded down $0.28 during trading on Thursday, hitting $159.75. 109,924 shares of the stock were exchanged, compared to its average volume of 199,169. The stock has a fifty day moving average price of $154.52 and a two-hundred day moving average price of $153.47. Penske Automotive Group, Inc. has a 1-year low of $136.45 and a 1-year high of $180.84. The firm has a market capitalization of $10.68 billion, a P/E ratio of 11.11 and a beta of 1.21. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing analysts' consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the business posted $4.31 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.44 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 20th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, May 17th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $0.87. Penske Automotive Group's dividend payout ratio is currently 24.20%.

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.