AQR Capital Management LLC Buys 20,506 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

AQR Capital Management LLC increased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 606,709 shares of the company’s stock after buying an additional 20,506 shares during the period. AQR Capital Management LLC owned 0.91% of Penske Automotive Group worth $92,487,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PAG. GAMMA Investing LLC boosted its holdings in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Penske Automotive Group in the 4th quarter valued at $40,000. Headlands Technologies LLC acquired a new position in Penske Automotive Group in the 4th quarter valued at $76,000. TD Waterhouse Canada Inc. grew its holdings in Penske Automotive Group by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company’s stock valued at $81,000 after buying an additional 158 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Penske Automotive Group during the 3rd quarter worth $94,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE PAG opened at $155.66 on Thursday. The firm’s 50 day simple moving average is $153.84 and its 200 day simple moving average is $158.14. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 11.32 and a beta of 1.03. 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, Inc. has a 1 year low of $134.05 and a 1 year high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.68 billion. During the same quarter last year, the business posted $3.21 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.86 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 Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $1.22 per share. This is an increase 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 3.14%. Penske Automotive Group’s payout ratio is presently 35.49%.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the firm’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 sale, the executive vice president now owns 28,917 shares of the company’s stock, valued at $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 available through this hyperlink. Also, Director John Barr sold 1,529 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was 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. Company insiders own 51.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PAG has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Citigroup began coverage on shares of Penske Automotive Group in a report on Wednesday, April 23rd. They set a “buy” rating and a $185.00 target price on the stock. Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.00.

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.