Penske Automotive Group (NYSE:PAG) Director Sells $238,109.76 in Stock

Penske Automotive Group, Inc. (NYSE:PAG) Director Greg Smith sold 1,488 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Penske Automotive Group Stock Down 2.0%

Penske Automotive Group stock opened at $156.51 on Wednesday. The stock’s 50 day moving average price is $156.22 and its 200 day moving average price is $160.29. Penske Automotive Group, Inc. has a 1-year low of $140.12 and a 1-year high of $189.51. The company has a market cap of $10.29 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. The company had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.Penske Automotive Group’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.66 earnings per share. On average, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.44 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.6%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, May 26th. Penske Automotive Group’s dividend payout ratio (DPR) is 41.79%.

Hedge Funds Weigh In On Penske Automotive Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after acquiring an additional 84,045 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Penske Automotive Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock worth $9,918,000 after purchasing an additional 3,100 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Penske Automotive Group in the first quarter valued at $42,000. EverSource Wealth Advisors LLC increased its stake in Penske Automotive Group by 506.9% in the second quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after purchasing an additional 735 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in Penske Automotive Group by 47.0% in the second quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after purchasing an additional 994 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PAG shares. Citigroup increased their target price 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. Barclays lowered their price target on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings cut Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Stephens raised their price target on Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $184.86.

Penske Automotive Group Company Profile

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.