Barclays PLC Reduces Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Barclays PLC decreased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 38.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,674 shares of the company's stock after selling 31,060 shares during the quarter. Barclays PLC owned 0.07% of Penske Automotive Group worth $7,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp raised its holdings in shares of Penske Automotive Group by 39.1% during the third quarter. Stifel Financial Corp now owns 2,986 shares of the company's stock valued at $485,000 after purchasing an additional 839 shares during the last quarter. Virtu Financial LLC purchased a new stake in Penske Automotive Group during the 3rd quarter valued at $284,000. Sanctuary Advisors LLC bought a new position in shares of Penske Automotive Group during the 3rd quarter valued at $415,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Penske Automotive Group in the 3rd quarter worth $94,000. Finally, Tidal Investments LLC grew its holdings in shares of Penske Automotive Group by 5.1% in the third quarter. Tidal Investments LLC now owns 1,830 shares of the company's stock worth $297,000 after acquiring an additional 88 shares during the period. Institutional investors own 77.08% of the company's stock.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Penske Automotive Group Price Performance

Shares of PAG traded down $0.54 during mid-day trading on Friday, reaching $157.58. The stock had a trading volume of 145,993 shares, compared to its average volume of 195,377. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 11.46 and a beta of 1.03. Penske Automotive Group, Inc. has a 12 month low of $134.05 and a 12 month high of $180.12. The business has a fifty day moving average of $154.45 and a 200 day moving average of $158.11. 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 (NYSE:PAG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (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 business 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 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 3.10%. Penske Automotive Group's payout ratio is currently 35.49%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAG. JPMorgan Chase & Co. lowered their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Citigroup started coverage on shares of Penske Automotive Group in a report on Wednesday. They issued a "buy" rating and a $185.00 price objective on the stock. Stephens reaffirmed an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $170.00.

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.