Manchester Capital Management LLC Has $86,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Manchester Capital Management LLC reduced its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 565 shares of the company’s stock after selling 85 shares during the period. Manchester Capital Management LLC’s holdings in Penske Automotive Group were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PAG. GAMMA Investing LLC boosted its stake in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. True Wealth Design LLC raised its holdings in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after buying an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its holdings in Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Penske Automotive Group in the 3rd quarter valued at approximately $94,000. Finally, Capital Performance Advisors LLP bought a new position in Penske Automotive Group in the 3rd quarter valued at approximately $112,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Benchmark assumed coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $170.25.

Penske Automotive Group Stock Down 1.0 %

Penske Automotive Group stock opened at $174.17 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $180.12. The firm has a 50 day moving average price of $160.49 and a two-hundred day moving average price of $160.41. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 13.35 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Equities analysts predict that Penske Automotive Group, Inc. will post 13.51 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be 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 is Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 2.80%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 36.48%.

About Penske Automotive Group

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.