New Age Alpha Advisors LLC Purchases 3,745 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

New Age Alpha Advisors LLC boosted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 23.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,620 shares of the company’s stock after buying an additional 3,745 shares during the period. New Age Alpha Advisors LLC’s holdings in Penske Automotive Group were worth $2,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. boosted its position in shares of Penske Automotive Group by 421.5% during the 1st quarter. UMB Bank n.a. now owns 339 shares of the company’s stock valued at $49,000 after acquiring an additional 274 shares in the last quarter. GAMMA Investing LLC lifted its stake in Penske Automotive Group by 51.9% during the first quarter. GAMMA Investing LLC now owns 398 shares of the company’s stock worth $57,000 after purchasing an additional 136 shares during the period. Fifth Third Bancorp boosted its holdings in Penske Automotive Group by 31.0% during the first quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $76,000 after purchasing an additional 125 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Penske Automotive Group by 42.4% in the 4th 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, State of Wyoming acquired a new position in shares of Penske Automotive Group in the 4th quarter worth approximately $105,000. Institutional investors own 77.08% of the company’s stock.

Insider Transactions at Penske Automotive Group

In other news, EVP Shane M. Spradlin sold 3,158 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $167.10, for a total transaction of $527,701.80. Following the transaction, the executive vice president owned 36,152 shares of the company’s stock, valued at $6,040,999.20. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greg C. Smith sold 1,529 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $161.64, for a total value of $247,147.56. The disclosure for this sale can be found here. Insiders sold a total of 82,044 shares of company stock worth $13,257,948 over the last 90 days. 51.70% of the stock is owned by insiders.

Penske Automotive Group Stock Up 0.8%

Shares of NYSE PAG opened at $178.26 on Thursday. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $186.33. The firm’s 50-day simple moving average is $172.05 and its 200 day simple moving average is $163.42. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 12.41 and a beta of 0.87.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.78 EPS for the quarter, beating the consensus estimate of $3.56 by $0.22. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.98 billion. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. Penske Automotive Group’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.61 earnings per share. On average, research analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group announced that its board has approved a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, August 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.0%. Penske Automotive Group’s dividend payout ratio is presently 35.07%.

Analysts Set New Price Targets

Several analysts recently commented on PAG shares. Bank of America boosted their price target on Penske Automotive Group from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Stephens restated an “equal weight” rating and issued a $140.00 target price on shares of Penske Automotive Group in a research note on Wednesday, June 11th. Wall Street Zen upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. Citigroup lifted their price target on shares of Penske Automotive Group from $185.00 to $195.00 and gave the company a “buy” rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. raised shares of Penske Automotive Group from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $155.00 to $175.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

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.