Handelsbanken Fonder AB Sells 1,100 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Handelsbanken Fonder AB lessened its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,016 shares of the company’s stock after selling 1,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Penske Automotive Group were worth $917,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after purchasing an additional 10,663 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Penske Automotive Group during the fourth quarter valued at approximately $240,000. Cerity Partners LLC increased its position in shares of Penske Automotive Group by 176.1% during the third quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock valued at $2,166,000 after acquiring an additional 8,504 shares during the last quarter. Blue Trust Inc. increased its position in shares of Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock valued at $198,000 after acquiring an additional 269 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Penske Automotive Group by 188.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock valued at $1,134,000 after acquiring an additional 4,559 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the firm’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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $168.67 on Friday. 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 business has a fifty day simple moving average of $161.56 and a two-hundred day simple moving average of $160.66. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12. The company has a market capitalization of $11.26 billion, a P/E ratio of 12.27 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. On average, analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a $1.22 dividend. 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 dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Analysts Set New Price Targets

A number of brokerages recently commented on PAG. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Stephens reaffirmed an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark began coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.