First Trust Advisors LP Has $14.13 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

First Trust Advisors LP grew its stake in Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 26.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,913 shares of the company’s stock after buying an additional 25,682 shares during the quarter. First Trust Advisors LP owned 0.17% of Penske Automotive Group worth $14,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PAG. Gradient Investments LLC acquired a new position in Penske Automotive Group during the fourth quarter worth $32,000. Huntington National Bank boosted its holdings in Penske Automotive Group by 16,800.0% during the third quarter. Huntington National Bank now owns 338 shares of the company’s stock worth $33,000 after purchasing an additional 336 shares during the last quarter. Hanseatic Management Services Inc. boosted its holdings in Penske Automotive Group by 74.2% during the third quarter. Hanseatic Management Services Inc. now owns 411 shares of the company’s stock worth $40,000 after purchasing an additional 175 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in Penske Automotive Group by 1,131.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 431 shares of the company’s stock worth $42,000 after purchasing an additional 396 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Penske Automotive Group during the third quarter worth $44,000. Institutional investors and hedge funds own 32.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kimberly J. Mcwaters sold 8,524 shares of Penske Automotive Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $141.53, for a total value of $1,206,401.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kimberly J. Mcwaters sold 8,524 shares of Penske Automotive Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $141.53, for a total value of $1,206,401.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Barr sold 2,000 shares of Penske Automotive Group stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $145.31, for a total transaction of $290,620.00. Following the completion of the sale, the director now directly owns 3,712 shares of the company’s stock, valued at approximately $539,390.72. The disclosure for this sale can be found here. Company insiders own 46.60% of the company’s stock.

Penske Automotive Group Trading Up 1.1 %

PAG opened at $142.65 on Wednesday. The company’s 50 day moving average is $138.54 and its 200-day moving average is $131.31. Penske Automotive Group, Inc. has a 1-year low of $94.49 and a 1-year high of $155.36. The company has a current ratio of 1.01, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The company has a market cap of $9.84 billion, a P/E ratio of 7.90 and a beta of 1.22.

Penske Automotive Group (NYSE:PAG – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.28. Penske Automotive Group had a net margin of 4.65% and a return on equity of 31.14%. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company posted $4.76 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that Penske Automotive Group, Inc. will post 15.58 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 22nd will be paid a $0.66 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, May 19th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 14.62%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PAG shares. Stephens increased their price objective on shares of Penske Automotive Group from $140.00 to $155.00 in a research report on Thursday, February 9th. StockNews.com began coverage on shares of Penske Automotive Group in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Penske Automotive Group from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st.

Penske Automotive Group Company Profile

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Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related parts and services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.