Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 62.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,637 shares of the company's stock after selling 7,679 shares during the quarter. Franklin Resources Inc.'s holdings in Penske Automotive Group were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PAG. Highland Capital Management LLC purchased a new position in shares of Penske Automotive Group during the fourth quarter worth approximately $240,000. Blue Trust Inc. boosted its stake in Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company's stock worth $198,000 after purchasing an additional 269 shares during the period. Merit Financial Group LLC purchased a new position in Penske Automotive Group during the 4th quarter worth $287,000. Sanctuary Advisors LLC acquired a new position in Penske Automotive Group in the third quarter valued at $415,000. Finally, Rhumbline Advisers raised its holdings in shares of Penske Automotive Group by 4.7% in the fourth quarter. Rhumbline Advisers now owns 54,063 shares of the company's stock valued at $8,241,000 after buying an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. StockNews.com lowered Penske Automotive Group from a "buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Stephens reaffirmed an "equal weight" rating and set a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $166.25.

Penske Automotive Group Price Performance

NYSE:PAG traded up $2.05 during trading hours on Friday, hitting $151.74. The company's stock had a trading volume of 200,691 shares, compared to its average volume of 194,651. The company has a market capitalization of $10.13 billion, a PE ratio of 11.04 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 business's 50-day moving average is $156.13 and its two-hundred day moving average is $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 released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping 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 firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. As a group, research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $1.22 dividend. The ex-dividend date was Monday, February 24th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.22%. Penske Automotive Group's dividend payout ratio is currently 35.49%.

Insiders Place Their Bets

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 shares were 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 of the company's stock, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Barr sold 1,529 shares of Penske Automotive Group 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 disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

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.