Aigen Investment Management LP Invests $1.15 Million in Penske Automotive Group, Inc. $PAG

Aigen Investment Management LP purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 7,276 shares of the company’s stock, valued at approximately $1,152,000.

Several other large investors also recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Penske Automotive Group by 39,232.7% in the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock worth $136,660,000 after buying an additional 861,157 shares during the period. Victory Capital Management Inc. boosted its holdings in Penske Automotive Group by 48.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock worth $241,958,000 after buying an additional 456,611 shares during the period. Norges Bank bought a new position in Penske Automotive Group in the 4th quarter worth approximately $32,137,000. Dimensional Fund Advisors LP boosted its holdings in Penske Automotive Group by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock valued at $204,761,000 after purchasing an additional 156,308 shares during the period. Finally, Hamlin Capital Management LLC bought a new position in Penske Automotive Group in the 4th quarter valued at $20,203,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michelle Hulgrave sold 1,500 shares of Penske Automotive Group stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total value of $257,700.00. Following the transaction, the chief financial officer owned 17,596 shares in the company, valued at $3,022,992.80. This trade represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total transaction of $238,109.76. The SEC filing for this sale provides additional information. 52.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

PAG has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $190.00 price target on shares of Penske Automotive Group in a report on Thursday, May 7th. Stephens raised their price target on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price target on shares of Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Citigroup raised their price target on shares of Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Barclays cut their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.63.

Penske Automotive Group Stock Performance

Penske Automotive Group stock opened at $181.30 on Friday. The firm’s fifty day moving average price is $164.59 and its 200-day moving average price is $161.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. The stock has a market cap of $11.92 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. Penske Automotive Group, Inc. has a fifty-two week low of $140.12 and a fifty-two week high of $189.51.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.14. The firm had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $3.66 EPS. On average, equities research analysts expect that Penske Automotive Group, Inc. will post 13.46 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, May 26th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. Penske Automotive Group’s dividend payout ratio is 42.39%.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.