Handelsbanken Fonder AB trimmed its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 15.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,016 shares of the company’s stock after selling 1,100 shares during the period. Handelsbanken Fonder AB’s holdings in Penske Automotive Group were worth $917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its stake in shares of Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after acquiring an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group in the 3rd quarter valued at about $94,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Penske Automotive Group in the 3rd quarter valued at about $112,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Stock Up 1.9 %

Shares of NYSE:PAG opened at $168.67 on Friday. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $180.12. The firm has a market capitalization of $11.26 billion, a P/E ratio of 12.27 and a beta of 1.20. The stock has a 50 day moving average price of $161.56 and a 200-day moving average price of $160.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG – Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $7.56 billion. As a group, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $1.22 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.88 annualized dividend and a dividend yield of 2.89%. 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%.

Analyst Upgrades and Downgrades

PAG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. 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. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.50.

Get Our Latest Stock Report on PAG

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 51.70% of the stock is currently owned by company insiders.

Penske Automotive Group Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penske Automotive Group, Inc. (NYSE:PAG – Free Report).

Receive News & Ratings for Penske Automotive Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Penske Automotive Group and related companies with MarketBeat.com’s FREE daily email newsletter.