Whittier Trust Co. of Nevada Inc. Acquires Shares of 263 Penske Automotive Group, Inc. (NYSE:PAG)

Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 263 shares of the company’s stock, valued at approximately $40,000.

Other institutional investors have also modified their holdings of the company. Wealthspire Advisors LLC increased its holdings in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock valued at $417,000 after buying an additional 63 shares during the last quarter. Blue Chip Partners LLC increased its holdings in shares of Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock valued at $1,617,000 after acquiring an additional 73 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 81 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Penske Automotive Group by 0.5% during 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 during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Penske Automotive Group by 5.1% in the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $154.31 on Tuesday. The firm’s 50 day moving average is $163.07 and its two-hundred day moving average is $159.64. The firm has a market capitalization of $10.30 billion, a P/E ratio of 11.22 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $7.56 billion. Analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.16%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is presently 35.49%.

Insider Activity at Penske Automotive Group

In other news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction 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 directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

PAG has been the topic of a number of recent research reports. StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Benchmark began coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. Finally, Stephens restated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. One equities research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Company 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.