Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,482 shares of the company's stock after selling 7,880 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of Penske Automotive Group worth $14,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PAG. Vanguard Group Inc. raised its position in shares of Penske Automotive Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock valued at $304,757,000 after purchasing an additional 12,912 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Penske Automotive Group by 24.4% during the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after buying an additional 51,720 shares during the period. American Century Companies Inc. increased its position in shares of Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock valued at $39,560,000 after acquiring an additional 38,388 shares during the period. Bruni J V & Co. Co. increased its position in shares of Penske Automotive Group by 1.9% in the 4th quarter. Bruni J V & Co. Co. now owns 200,142 shares of the company's stock valued at $30,510,000 after acquiring an additional 3,738 shares during the period. Finally, Horizon Kinetics Asset Management LLC raised its stake in Penske Automotive Group by 0.8% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 182,966 shares of the company's stock worth $27,891,000 after acquiring an additional 1,486 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group 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 transaction, the executive vice president now owns 28,917 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Barr sold 1,529 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective 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. StockNews.com downgraded shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Stephens restated an "equal weight" rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $166.25.

Penske Automotive Group Stock Performance

Shares of PAG traded down $0.50 during mid-day trading on Tuesday, reaching $150.81. The company had a trading volume of 145,489 shares, compared to its average volume of 195,629. The stock has a market capitalization of $10.07 billion, a P/E ratio of 10.97 and a beta of 1.03. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $180.12. The stock has a 50 day moving average of $157.37 and a two-hundred day moving average of $158.37. 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 released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. On average, analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio (DPR) is currently 35.49%.

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.