7,095 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Acquired by Aigen Investment Management LP

Aigen Investment Management LP purchased a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,095 shares of the company's stock, valued at approximately $1,139,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PAG. Norges Bank acquired a new position in shares of Penske Automotive Group in the fourth quarter worth about $30,844,000. Invesco Ltd. grew its position 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 purchasing an additional 181,995 shares in the last quarter. Principal Financial Group Inc. raised its stake in Penske Automotive Group by 4,712.6% during the 3rd quarter. Principal Financial Group Inc. now owns 72,044 shares of the company's stock valued at $12,036,000 after purchasing an additional 70,547 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 66,556 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Penske Automotive Group by 206.5% in the third 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 period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Down 0.3 %

Shares of PAG traded down $0.44 during mid-day trading on Tuesday, hitting $154.92. 154,910 shares of the company's stock were exchanged, compared to its average volume of 198,637. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 10.77 and a beta of 1.21. The firm has a fifty day moving average of $154.68 and a two-hundred day moving average of $153.70. 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, Inc. has a twelve month low of $136.45 and a twelve month high of $180.84.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.35 by ($0.14). The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.31 earnings per share. On average, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.37 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be given a $0.96 dividend. This is a positive change from Penske Automotive Group's previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Friday, May 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.48%. Penske Automotive Group's dividend payout ratio (DPR) is currently 26.70%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAG. Bank of America raised their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. Morgan Stanley upped their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an "underweight" rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $163.20.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 1,600 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 52.20% of the stock is owned by corporate insiders.

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.