Ieq Capital LLC Has $1.83 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Ieq Capital LLC grew its position in Penske Automotive Group, Inc. (NYSE:PAG) by 128.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,973 shares of the company’s stock after purchasing an additional 6,743 shares during the period. Ieq Capital LLC’s holdings in Penske Automotive Group were worth $1,825,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group in the third quarter valued at about $94,000. Finally, Capital Performance Advisors LLP acquired a new position in Penske Automotive Group during the 3rd quarter worth about $112,000. 77.08% of the stock is owned by institutional investors.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the company’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 value of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 51.70% of the stock is currently owned by insiders.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $163.54 on Monday. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $180.12. The business’s 50 day moving average price is $161.04 and its two-hundred day moving average price is $160.52. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.92 billion, a PE ratio of 11.89 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. On average, analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be paid a $1.22 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Analyst Upgrades and Downgrades

PAG has been the subject of several research analyst reports. Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Finally, Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Penske Automotive Group currently has a consensus rating of “Hold” and an average target price of $172.50.

Penske Automotive Group 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.