Insider Selling: Penske Automotive Group (NYSE:PAG) Director Sells $238,109.76 in Stock

Penske Automotive Group, Inc. (NYSE:PAG) Director Greg Smith sold 1,488 shares of Penske Automotive Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Penske Automotive Group Stock Up 2.0%

Shares of Penske Automotive Group stock opened at $164.95 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. Penske Automotive Group, Inc. has a 12 month low of $140.12 and a 12 month high of $189.51. The business has a fifty day simple moving average of $156.76 and a 200 day simple moving average of $160.32. The stock has a market cap of $10.85 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The business had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the previous year, the firm earned $3.66 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts predict that Penske Automotive Group, Inc. will post 13.44 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, May 26th. Penske Automotive Group’s payout ratio is presently 41.79%.

Wall Street Analyst Weigh In

PAG has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings cut Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Stephens lifted their price objective on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Citigroup lifted their price objective on Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Barclays reduced their target price on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in Penske Automotive Group by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock worth $234,914,000 after acquiring an additional 92,794 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Penske Automotive Group by 11.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock worth $216,489,000 after acquiring an additional 154,443 shares in the last quarter. Diamant Asset Management Inc. lifted its holdings in Penske Automotive Group by 14,852.0% during the first quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock worth $132,237,000 after acquiring an additional 878,496 shares in the last quarter. Bank of Montreal Can lifted its holdings in Penske Automotive Group by 39,232.7% during the fourth quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock worth $136,660,000 after acquiring an additional 861,157 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Penske Automotive Group by 6.6% during the third quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock worth $125,043,000 after acquiring an additional 44,749 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.