LSV Asset Management Has $135.05 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

LSV Asset Management decreased its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 885,887 shares of the company’s stock after selling 48,800 shares during the period. LSV Asset Management’s holdings in Penske Automotive Group were worth $135,045,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its position in Penske Automotive Group by 2.4% during the 4th quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after buying an additional 63 shares in the last quarter. Blue Chip Partners LLC raised its holdings in Penske Automotive Group by 0.7% during the fourth quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after acquiring an additional 73 shares in the last quarter. GAMMA Investing LLC raised its holdings in Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares in the last quarter. Tidal Investments LLC boosted its position in Penske Automotive Group by 5.1% during the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after purchasing an additional 88 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Penske Automotive Group by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 2,055 shares of the company’s stock valued at $313,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Down 2.8 %

Shares of Penske Automotive Group stock opened at $148.61 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 $158.09 and a two-hundred day simple moving average of $158.54. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $180.12. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 10.81 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG) last posted 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. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. Research analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s payout ratio is currently 35.49%.

Wall Street Analyst Weigh In

PAG has been the topic of a number of analyst reports. StockNews.com cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Benchmark initiated coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating on the stock. Finally, Stephens reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Hold” and a consensus target price of $166.25.

Insider Activity

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

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.