Denali Advisors LLC Has $681,000 Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Denali Advisors LLC trimmed its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,465 shares of the company’s stock after selling 298 shares during the quarter. Denali Advisors LLC’s holdings in Penske Automotive Group were worth $681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAG. Wealthspire Advisors LLC boosted its position in Penske Automotive Group by 2.4% during the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock valued at $417,000 after acquiring an additional 63 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Penske Automotive Group by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock valued at $316,000 after purchasing an additional 69 shares in the last quarter. Blue Chip Partners LLC grew its stake in Penske Automotive Group by 0.7% during the fourth quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after purchasing an additional 73 shares during the period. GAMMA Investing LLC increased its holdings in 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. Finally, Quantinno Capital Management LP increased its holdings in Penske Automotive Group by 0.5% in the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after purchasing an additional 82 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Shares of PAG opened at $167.43 on Thursday. The stock has a market cap of $11.18 billion, a P/E ratio of 12.18 and a beta of 1.20. The business’s fifty day moving average is $161.39 and its 200 day moving average is $160.63. 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, Inc. has a 12-month low of $142.32 and a 12-month high of $180.12.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s payout ratio is currently 35.49%.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. The trade was 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 at this link. Company insiders own 51.70% of the company’s stock.

Analysts Set New Price Targets

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