Moran Wealth Management LLC Takes $14.16 Million Position in Penske Automotive Group, Inc. (NYSE:PAG)

Moran Wealth Management LLC acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 92,871 shares of the company’s stock, valued at approximately $14,157,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake 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 worth $40,000 after purchasing an additional 81 shares in the last quarter. True Wealth Design LLC grew its position in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after buying an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group during the 3rd quarter worth about $94,000. Finally, KBC Group NV lifted its stake in shares of Penske Automotive Group by 33.5% in the 4th quarter. KBC Group NV now owns 749 shares of the company’s stock worth $114,000 after acquiring an additional 188 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Up 1.3 %

Shares of NYSE:PAG opened at $168.98 on Monday. The firm has a 50 day simple moving average of $162.77 and a 200 day simple moving average of $160.77. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a market cap of $11.28 billion, a PE ratio of 12.29 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.37 by $0.17. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 2.89%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Analysts Set New Price Targets

PAG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Benchmark started coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating for the company. Finally, Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Penske Automotive Group currently has an average rating of “Moderate Buy” and an average price target of $172.50.

Insider Buying and Selling at Penske Automotive Group

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 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 owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 51.70% of the company’s stock.

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.