Kapitalo Investimentos Ltda Sells 2,630 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Kapitalo Investimentos Ltda decreased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 78.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 743 shares of the company’s stock after selling 2,630 shares during the period. Kapitalo Investimentos Ltda’s holdings in Penske Automotive Group were worth $113,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Penske Automotive Group in the third quarter valued at about $284,000. Wilmington Savings Fund Society FSB purchased a new stake in Penske Automotive Group in the 3rd quarter worth approximately $94,000. Tidal Investments LLC grew its position in shares of Penske Automotive Group by 5.1% in the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after buying an additional 88 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Penske Automotive Group by 65.6% during the third quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock valued at $1,906,000 after buying an additional 4,877 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAG. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. Citigroup assumed coverage on shares of Penske Automotive Group in a report on Wednesday, April 23rd. They issued a “buy” rating and a $185.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Finally, Stephens restated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.00.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Barr sold 1,529 shares of the business’s stock in a transaction 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. Insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Down 1.2 %

PAG stock opened at $155.66 on Thursday. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $180.12. The firm has a market cap of $10.39 billion, a PE ratio of 11.32 and a beta of 1.03. The business has a 50 day moving average of $153.84 and a 200 day moving average of $158.14. 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) last posted its earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.12. The business had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 EPS. On average, research analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.14%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

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.