Quest Partners LLC Invests $929,000 in Penske Automotive Group, Inc. (NYSE:PAG)

Quest Partners LLC purchased a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,789 shares of the company's stock, valued at approximately $929,000.

Several other large investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its position in Penske Automotive Group by 113.6% during the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company's stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Penske Automotive Group by 91.2% in the 4th quarter. Blue Trust Inc. now owns 346 shares of the company's stock valued at $58,000 after buying an additional 165 shares in the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Penske Automotive Group by 305.5% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company's stock valued at $173,000 after buying an additional 782 shares in the last quarter. NDVR Inc. acquired a new position in Penske Automotive Group in the fourth quarter worth approximately $203,000. Finally, Atria Wealth Solutions Inc. bought a new position in Penske Automotive Group during the third quarter valued at approximately $218,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the completion of the transaction, the director now owns 716 shares of the company's stock, valued at approximately $110,299.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 52.20% of the company's stock.

Penske Automotive Group Stock Performance

Shares of NYSE PAG traded down $2.35 during trading hours on Wednesday, hitting $152.57. 157,502 shares of the stock were exchanged, compared to its average volume of 198,555. Penske Automotive Group, Inc. has a one year low of $136.45 and a one year high of $180.84. The company's 50 day moving average is $154.65 and its 200 day moving average is $153.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23. The firm has a market capitalization of $10.20 billion, a P/E ratio of 10.61 and a beta of 1.21.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 EPS for the quarter, missing analysts' consensus estimates 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 firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.31 earnings per share. On average, research analysts expect that Penske Automotive Group, Inc. will post 13.37 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Penske Automotive Group's previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 2.52%. Penske Automotive Group's dividend payout ratio is 26.70%.

Penske Automotive Group Company 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.