Insider Selling: Penske Automotive Group (NYSE:PAG) CFO Sells 2,100 Shares of Stock

Penske Automotive Group, Inc. (NYSE:PAG) CFO Michelle Hulgrave sold 2,100 shares of Penske Automotive Group stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer directly owned 16,822 shares of the company’s stock, valued at approximately $2,694,379.74. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Penske Automotive Group Stock Up 3.1%

NYSE:PAG traded up $4.93 during mid-day trading on Tuesday, hitting $163.09. 225,480 shares of the company’s stock were exchanged, compared to its average volume of 243,180. The company has a market cap of $10.74 billion, a PE ratio of 11.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.21. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $189.51. The business has a fifty day moving average price of $166.43 and a 200 day moving average price of $171.50.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.25). Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter in the previous year, the business posted $3.39 earnings per share. Penske Automotive Group’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 3.4%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 14th. Penske Automotive Group’s dividend payout ratio is presently 38.85%.

Institutional Investors Weigh In On Penske Automotive Group

Several large investors have recently bought and sold shares of PAG. Rothschild Investment LLC raised its position in Penske Automotive Group by 935.3% in the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after buying an additional 159 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Penske Automotive Group in the third quarter worth approximately $33,000. Sound Income Strategies LLC purchased a new position in shares of Penske Automotive Group during the second quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new position in shares of Penske Automotive Group during the first quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC lifted its position in Penske Automotive Group by 237.0% during the third quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock valued at $54,000 after purchasing an additional 218 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Morgan Stanley increased their price objective on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Citigroup raised their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Benchmark lifted their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, Barclays initiated coverage on shares of Penske Automotive Group in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.86.

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.