Penske Automotive Group (NYSE:PAG) Earns "Equal Weight" Rating from Stephens

Stephens reaffirmed their equal weight rating on shares of Penske Automotive Group (NYSE:PAG - Free Report) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $165.00 price objective on the stock.

Separately, Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $172.50.

Penske Automotive Group Stock Down 2.6 %

Shares of PAG traded down $4.38 during midday trading on Tuesday, reaching $163.54. 276,083 shares of the stock were exchanged, compared to its average volume of 188,508. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $180.12. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The company's 50 day moving average is $161.04 and its two-hundred day moving average is $160.52. The company has a market capitalization of $10.92 billion, a P/E ratio of 11.89 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, sell-side analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a dividend of $1.22 per share. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, February 24th. Penske Automotive Group's dividend payout ratio is 34.62%.

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 approximately $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 51.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock valued at $40,000 after buying an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Penske Automotive Group in the fourth quarter valued at about $40,000. True Wealth Design LLC raised its stake in 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 buying an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its stake in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock valued at $74,000 after buying an additional 453 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Penske Automotive Group in the fourth quarter valued at about $76,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.