Aster Capital Management DIFC Ltd Has $761,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Aster Capital Management DIFC Ltd raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 164.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,991 shares of the company’s stock after purchasing an additional 3,106 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Penske Automotive Group were worth $761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position 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 valued at $40,000 after purchasing an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group in the 4th quarter valued at about $40,000. Headlands Technologies LLC bought a new position in Penske Automotive Group in the 4th quarter valued at about $76,000. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group during the third quarter worth approximately $94,000. Finally, KBC Group NV boosted its holdings in shares of Penske Automotive Group by 33.5% during the fourth 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 owned by institutional investors.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Barr sold 1,529 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Corporate insiders own 52.40% of the company’s stock.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $141.53 on Friday. The firm has a market cap of $9.45 billion, a PE ratio of 10.29 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The stock’s fifty day moving average price is $160.47 and its two-hundred day moving average price is $159.11. Penske Automotive Group, Inc. has a one year low of $136.86 and a one year high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders 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 a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.45%. Penske Automotive Group’s payout ratio is presently 35.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PAG shares. Stephens reiterated 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 started coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. dropped their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.25.

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.