Tower Research Capital LLC TRC Raises Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Tower Research Capital LLC TRC lifted its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 160.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,125 shares of the company's stock after buying an additional 3,155 shares during the period. Tower Research Capital LLC TRC's holdings in Penske Automotive Group were worth $781,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Penske Automotive Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock worth $304,757,000 after acquiring an additional 12,912 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 24.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock valued at $40,179,000 after purchasing an additional 51,720 shares during the last quarter. American Century Companies Inc. increased its position in shares of Penske Automotive Group by 17.4% during the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock valued at $39,560,000 after purchasing an additional 38,388 shares during the last quarter. Bruni J V & Co. Co. raised its holdings in Penske Automotive Group by 1.9% during the 4th quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company's stock valued at $30,510,000 after buying an additional 3,738 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its position in Penske Automotive Group by 0.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company's stock worth $27,891,000 after buying an additional 1,486 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. Company insiders own 51.70% of the company's stock.

Penske Automotive Group Stock Up 0.1 %

Shares of PAG stock traded up $0.22 on Thursday, hitting $155.89. The stock had a trading volume of 141,899 shares, compared to its average volume of 195,088. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $180.12. The business has a 50 day moving average price of $153.84 and a 200 day moving average price of $158.14. The company has a market cap of $10.41 billion, a PE ratio of 11.35 and a beta of 1.03. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

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 net margin of 3.02% and a return on equity of 18.05%. The firm had revenue of $7.60 billion during the quarter, compared to analysts' expectations of $7.68 billion. During the same quarter in the prior year, the company earned $3.21 EPS. The company's revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, February 24th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

Analyst Upgrades and Downgrades

PAG has been the topic of several recent analyst reports. StockNews.com raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Stephens restated an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Finally, Citigroup started coverage on shares of Penske Automotive Group in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $185.00 price objective for the company. One research 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $170.00.

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.