Penske Automotive Group, Inc. (NYSE:PAG) Director Sells $122,228.36 in Stock

Penske Automotive Group, Inc. (NYSE:PAG) Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Penske Automotive Group Price Performance

Shares of PAG opened at $164.11 on Monday. The company has a 50 day moving average of $152.41 and a two-hundred day moving average of $152.95. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 11.41 and a beta of 1.18. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Penske Automotive Group, Inc. has a twelve month low of $137.95 and a twelve month high of $179.72.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. During the same period in the prior year, the company posted $4.41 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Penske Automotive Group, Inc. will post 13.37 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, August 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s payout ratio is currently 26.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp raised its stake in Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after acquiring an additional 91 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Penske Automotive Group by 91.2% during the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after purchasing an additional 165 shares during the period. Gradient Investments LLC lifted its holdings in shares of Penske Automotive Group by 35.2% during the first quarter. Gradient Investments LLC now owns 380 shares of the company’s stock worth $62,000 after purchasing an additional 99 shares during the period. International Assets Investment Management LLC purchased a new stake in Penske Automotive Group in the second quarter valued at approximately $69,000. Finally, WFA Asset Management Corp acquired a new position in Penske Automotive Group in the 1st quarter worth approximately $84,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America lifted their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Hold” and an average target price of $157.75.

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.