Brandywine Global Investment Management LLC decreased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 14.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 210,440 shares of the company’s stock after selling 35,827 shares during the period. Brandywine Global Investment Management LLC owned about 0.25% of Penske Automotive Group worth $10,070,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PAG. The Manufacturers Life Insurance Company grew its holdings in Penske Automotive Group by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after purchasing an additional 175 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Penske Automotive Group in the fourth quarter valued at $129,000. Commonwealth Equity Services Inc acquired a new stake in Penske Automotive Group in the third quarter valued at $199,000. Jane Street Group LLC acquired a new stake in Penske Automotive Group in the third quarter valued at $201,000. Finally, Stephens Inc. AR acquired a new stake in Penske Automotive Group in the third quarter valued at $230,000. 41.31% of the stock is currently owned by institutional investors.
Shares of Penske Automotive Group, Inc. (PAG) opened at $46.91 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.22 and a current ratio of 1.01. The company has a market capitalization of $4,020.00, a price-to-earnings ratio of 10.88, a P/E/G ratio of 1.19 and a beta of 1.52. Penske Automotive Group, Inc. has a 52 week low of $38.33 and a 52 week high of $54.83.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.90%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 9th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 31.55%.
A number of analysts recently commented on PAG shares. ValuEngine raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, Bank of America increased their price objective on Penske Automotive Group from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $55.57.
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About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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