Fox Run Management L.L.C. Takes $210,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Fox Run Management L.L.C. bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,378 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Penske Automotive Group during the third quarter worth approximately $231,000. Citigroup Inc. lifted its holdings in Penske Automotive Group by 4.1% during the 3rd quarter. Citigroup Inc. now owns 63,548 shares of the company’s stock worth $10,321,000 after purchasing an additional 2,475 shares during the last quarter. Cerity Partners LLC boosted its stake in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock valued at $2,166,000 after purchasing an additional 8,504 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Penske Automotive Group by 62.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company’s stock valued at $4,743,000 after buying an additional 11,267 shares in the last quarter. Finally, Cynosure Group LLC bought a new position in Penske Automotive Group during the 3rd quarter worth $371,000. Institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Benchmark initiated coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating on the stock. 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. Finally, Stephens restated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Penske Automotive Group presently has an average rating of “Moderate Buy” and an average price target of $166.25.

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Barr sold 1,529 shares of the company’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 disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE PAG opened at $140.99 on Friday. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 10.25 and a beta of 1.24. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a twelve month low of $139.56 and a twelve month high of $180.12. The stock has a fifty day simple moving average of $162.15 and a 200 day simple moving average of $159.34.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating 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 company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $1.22 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.46%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

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.