Penske Automotive Group, Inc. (NYSE:PAG) Given Average Rating of "Hold" by Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) have been assigned an average rating of "Hold" from the five analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $166.25.

A number of research firms have recently issued reports on PAG. StockNews.com lowered Penske Automotive Group from a "buy" rating to a "hold" rating in a report on Monday, April 7th. Stephens reiterated an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, March 27th.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock traded up $2.05 during trading on Wednesday, hitting $151.74. 200,691 shares of the stock were exchanged, compared to its average volume of 194,596. The stock's fifty day moving average is $156.40 and its 200 day moving average is $158.18. Penske Automotive Group has a 12 month low of $134.05 and a 12 month high of $180.12. The stock has a market cap of $10.13 billion, a PE ratio of 11.04 and a beta of 1.03. 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, beating the consensus estimate of $3.37 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, sell-side analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.

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 dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Barr sold 1,529 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company's stock.

Institutional Trading of Penske Automotive Group

A number of large investors have recently added to or reduced their stakes in PAG. Vanguard Group Inc. boosted its holdings in 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 period. Burgundy Asset Management Ltd. grew its holdings in Penske Automotive Group by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company's stock worth $122,998,000 after acquiring an additional 13,106 shares during the last quarter. AQR Capital Management LLC increased its holdings in Penske Automotive Group by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 606,709 shares of the company's stock valued at $92,487,000 after purchasing an additional 20,506 shares during the period. Bank of New York Mellon Corp raised its position 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 acquiring an additional 51,720 shares during the last quarter. Finally, American Century Companies Inc. lifted 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 worth $39,560,000 after purchasing an additional 38,388 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

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.