Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $172.50

Penske Automotive Group, Inc. (NYSE:PAG) has received an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $172.50.

PAG has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Stephens reiterated an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Benchmark started coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company.

Penske Automotive Group Stock Up 1.9 %

NYSE PAG opened at $168.67 on Tuesday. 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 has a 52 week low of $142.32 and a 52 week high of $180.12. The stock has a market capitalization of $11.26 billion, a P/E ratio of 12.27 and a beta of 1.20. The stock has a fifty day moving average of $161.79 and a 200-day moving average of $160.72.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. On average, equities research analysts forecast that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is presently 35.49%.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the 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 sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 51.70% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

Several large investors have recently modified their holdings of the business. Wealthspire Advisors LLC increased its stake in Penske Automotive Group by 2.4% during the 4th quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Penske Automotive Group by 3.7% during the third quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock worth $316,000 after acquiring an additional 69 shares in the last quarter. Blue Chip Partners LLC increased its position in shares of Penske Automotive Group by 0.7% during the fourth quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after acquiring an additional 73 shares in the last quarter. GAMMA Investing LLC increased its position 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 in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Penske Automotive Group by 0.5% during the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after acquiring an additional 82 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

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.