Insider Selling: Penske Automotive Group, Inc. (NYSE:PAG) EVP Sells 8,746 Shares of Stock

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) EVP Claude H. Denker III sold 8,746 shares of the firm's 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 sale, the executive vice president now owns 28,917 shares of the company's stock, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Penske Automotive Group Stock Down 2.6 %

Shares of Penske Automotive Group stock traded down $4.38 during midday trading on Friday, reaching $163.54. 276,078 shares of the company's stock traded hands, compared to its average volume of 188,508. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 11.89 and a beta of 1.20. The company's 50 day simple moving average is $161.04 and its 200 day simple moving average is $160.51. 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, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Equities analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, February 24th. This is a positive change 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 2.98%. Penske Automotive Group's dividend payout ratio (DPR) is presently 34.62%.

Wall Street Analyst Weigh In

PAG has been the subject of a number of research analyst reports. Stephens reiterated an "equal weight" rating and issued a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a research report on Wednesday. Finally, Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $172.50.

Institutional Trading of Penske Automotive Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Burgundy Asset Management Ltd. grew its position in Penske Automotive Group by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company's stock worth $122,998,000 after purchasing an additional 13,106 shares during the last quarter. CSS LLC IL lifted its holdings in Penske Automotive Group by 42.9% during the 4th quarter. CSS LLC IL now owns 2,650 shares of the company's stock valued at $404,000 after purchasing an additional 796 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Penske Automotive Group by 14.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company's stock valued at $10,028,000 after purchasing an additional 8,438 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in Penske Automotive Group by 4.4% during the 4th quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company's stock valued at $20,430,000 after purchasing an additional 5,669 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Penske Automotive Group by 4.7% in the fourth quarter. Squarepoint Ops LLC now owns 19,643 shares of the company's stock valued at $2,994,000 after purchasing an additional 873 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.