Signaturefd LLC Has $101,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Signaturefd LLC cut its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 33.3% during the third quarter, Holdings Channel reports. The fund owned 605 shares of the company’s stock after selling 302 shares during the quarter. Signaturefd LLC’s holdings in Penske Automotive Group were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PAG. Venturi Wealth Management LLC boosted its stake in Penske Automotive Group by 113.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the period. FinTrust Capital Advisors LLC bought a new stake in Penske Automotive Group in the 3rd quarter valued at $35,000. Grove Bank & Trust boosted its stake in Penske Automotive Group by 100.0% in the 3rd quarter. Grove Bank & Trust now owns 250 shares of the company’s stock valued at $42,000 after purchasing an additional 125 shares during the period. Raleigh Capital Management Inc. boosted its stake in Penske Automotive Group by 24.2% in the 2nd quarter. Raleigh Capital Management Inc. now owns 313 shares of the company’s stock valued at $52,000 after purchasing an additional 61 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Penske Automotive Group in the 2nd quarter valued at $55,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $148.44 on Thursday. The stock has a fifty day moving average price of $154.48 and a 200-day moving average price of $158.17. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 3.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 1.01. Penske Automotive Group, Inc. has a fifty-two week low of $125.07 and a fifty-two week high of $180.84.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Wednesday, February 14th. Penske Automotive Group’s dividend payout ratio is presently 18.75%.

Insider Activity

In other news, Director Sandra E. Pierce sold 8,750 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $151.62, for a total transaction of $1,326,675.00. Following the completion of the sale, the director now directly owns 20,500 shares in the company, valued at approximately $3,108,210. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 51.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PAG. StockNews.com began coverage on Penske Automotive Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Benchmark restated a “buy” rating and issued a $196.00 price target on shares of Penske Automotive Group in a research note on Thursday, October 26th. Finally, JPMorgan Chase & Co. reduced their price target on Penske Automotive Group from $145.00 to $140.00 and set an “underweight” rating for the company in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $166.60.

Read Our Latest Stock Report on PAG

Penske Automotive Group Company Profile

(Free Report)

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships in the United States and internationally. 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.

See Also

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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