Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Nilsine Partners LLC

Nilsine Partners LLC lessened its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,484 shares of the company’s stock after selling 909 shares during the quarter. Nilsine Partners LLC’s holdings in Penske Automotive Group were worth $2,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PAG. Moneta Group Investment Advisors LLC bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at about $260,702,000. Envestnet Asset Management Inc. grew its position in shares of Penske Automotive Group by 3,459.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock valued at $1,783,000 after buying an additional 601,536 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Penske Automotive Group by 491.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 348,863 shares of the company’s stock valued at $49,472,000 after buying an additional 289,902 shares during the last quarter. Norges Bank bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at about $25,163,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Penske Automotive Group by 2,465.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 205,296 shares of the company’s stock valued at $21,492,000 after buying an additional 197,293 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Insider Activity at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the sale, the director now owns 51,001 shares in the company, valued at approximately $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the sale, the director now owns 51,001 shares in the company, valued at approximately $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Barr sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the sale, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Penske Automotive Group Trading Up 0.7 %

Penske Automotive Group stock opened at $153.43 on Friday. The firm has a 50 day simple moving average of $153.32 and a 200-day simple moving average of $153.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25. The stock has a market capitalization of $10.29 billion, a PE ratio of 9.91 and a beta of 1.19. Penske Automotive Group, Inc. has a 12-month low of $133.72 and a 12-month high of $180.84.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.21). Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same quarter last year, the business earned $4.21 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 13.83 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, February 14th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.79. Penske Automotive Group’s dividend payout ratio is 22.48%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley boosted their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $168.20.

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.