Penske Automotive Group (NYSE:PAG) Shares Down 1.6% After Insider Selling

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report)'s share price fell 1.6% during mid-day trading on Friday following insider selling activity. The company traded as low as $143.03 and last traded at $146.69. 38,560 shares were traded during mid-day trading, a decline of 78% from the average session volume of 177,112 shares. The stock had previously closed at $149.04.

Specifically, Director John Barr sold 1,529 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PAG. StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 19th. Stephens restated an "equal weight" rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Finally, Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.50.

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Penske Automotive Group Stock Performance

The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $163.18 and a 200-day moving average of $160.04. The stock has a market cap of $9.91 billion, a PE ratio of 10.80 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.56 billion. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis 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 payout ratio is 35.49%.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors and hedge funds have recently modified their holdings of PAG. GAMMA Investing LLC raised its stake in Penske Automotive Group by 44.8% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Penske Automotive Group during the fourth quarter valued at approximately $40,000. True Wealth Design LLC raised its stake in Penske Automotive Group by 14,833.3% during 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 in the last quarter. Transamerica Financial Advisors Inc. raised its stake in Penske Automotive Group by 45,300.0% during 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 in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Penske Automotive Group during the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors 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.