Brandywine Global Investment Management LLC Decreases Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Brandywine Global Investment Management LLC lessened its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,471 shares of the company’s stock after selling 3,003 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.06% of Penske Automotive Group worth $6,322,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. New Age Alpha Advisors LLC purchased a new stake in Penske Automotive Group in the fourth quarter worth approximately $2,420,000. Norges Bank bought a new position in shares of Penske Automotive Group during the 4th quarter valued at $22,049,000. BIT Capital GmbH purchased a new position in shares of Penske Automotive Group in the 4th quarter worth $825,000. Financial Engines Advisors L.L.C. grew its holdings in shares of Penske Automotive Group by 10.4% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 2,909 shares of the company’s stock worth $443,000 after acquiring an additional 275 shares during the period. Finally, EntryPoint Capital LLC increased its position in Penske Automotive Group by 77.1% during the fourth quarter. EntryPoint Capital LLC now owns 2,931 shares of the company’s stock valued at $447,000 after acquiring an additional 1,276 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Trading Up 1.6 %

Penske Automotive Group stock opened at $146.32 on Wednesday. Penske Automotive Group, Inc. has a 12-month low of $139.56 and a 12-month high of $180.12. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24. The firm has a 50 day moving average of $161.83 and a 200 day moving average of $159.44. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data 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 firm 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%. As a group, research analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is presently 35.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PAG shares. JPMorgan Chase & Co. cut their price target on 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. Stephens restated an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark started coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Insider Buying and Selling at Penske Automotive Group

In other news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 52.40% of the company’s stock.

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.