Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 64.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,474 shares of the company's stock after buying an additional 14,321 shares during the period. BNP Paribas Financial Markets owned about 0.05% of Penske Automotive Group worth $5,560,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at approximately $40,000. Headlands Technologies LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at approximately $76,000. TD Waterhouse Canada Inc. boosted 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 valued at $81,000 after purchasing an additional 158 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Penske Automotive Group by 33.5% in the fourth quarter. KBC Group NV now owns 749 shares of the company's stock valued at $114,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 77.08% of the company's stock.

Penske Automotive Group Stock Performance

PAG traded up $0.60 during midday trading on Monday, hitting $167.14. 155,424 shares of the company were exchanged, compared to its average volume of 195,455. The company's 50 day simple moving average is $152.67 and its 200 day simple moving average is $158.85. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 12.16 and a beta of 0.90. 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 1-year low of $134.05 and a 1-year high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.68 billion. During the same period last year, the firm earned $3.21 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

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

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th will be given a dividend of $1.26 per share. The ex-dividend date is Tuesday, May 27th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.22. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.02%. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

Insider Activity

In related news, Director John Barr sold 1,529 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 51.70% of the company's stock.

Analyst Ratings Changes

PAG has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target 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. Citigroup upped their target price on Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Monday. Finally, Stephens restated an "equal weight" rating and set a $140.00 target price on shares of Penske Automotive Group in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Penske Automotive Group currently has a consensus rating of "Moderate Buy" and an average price target of $167.00.

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.