Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) Director John Barr sold 1,529 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Penske Automotive Group Stock Down 0.8 %
Shares of NYSE:PAG traded down $1.17 on Tuesday, reaching $148.52. The company had a trading volume of 175,024 shares, compared to its average volume of 177,742. The stock has a market capitalization of $9.91 billion, a P/E ratio of 10.80 and a beta of 1.24. The stock has a 50-day moving average price of $163.18 and a 200 day moving average price of $160.04. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $180.12. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.
Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.
Penske Automotive Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.29%. The ex-dividend date was Monday, February 24th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.
Analyst Upgrades and Downgrades
PAG has been the subject of a number of research reports. Stephens reissued an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an "underweight" rating in a research note on Wednesday, February 19th. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $172.50.
Read Our Latest Report on PAG
Institutional Investors Weigh In On Penske Automotive Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after purchasing an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Penske Automotive Group during the fourth quarter worth approximately $40,000. True Wealth Design LLC boosted its position in shares of Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company's stock valued at $73,000 after acquiring an additional 445 shares during the period. Transamerica Financial Advisors Inc. grew its stake in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock worth $74,000 after acquiring an additional 453 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Penske Automotive Group during the fourth quarter worth $76,000. 77.08% of the stock is owned by institutional investors and hedge funds.
Penske Automotive Group Company Profile
(
Get Free Report)
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.
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