Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III sold 5,000 shares of Penske Automotive Group stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total value of $206,350.00. Following the completion of the sale, the executive vice president now directly owns 22,243 shares in the company, valued at approximately $917,968.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Penske Automotive Group, Inc. (NYSE:PAG) traded down 1.42% during trading on Thursday, reaching $40.86. The company’s stock had a trading volume of 26,250 shares. The stock’s 50 day moving average price is $43.38 and its 200-day moving average price is $46.36. The firm has a market cap of $3.51 billion, a PE ratio of 9.74 and a beta of 1.48. Penske Automotive Group, Inc. has a 12 month low of $40.37 and a 12 month high of $56.05.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business earned $1.11 EPS. Penske Automotive Group’s revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Penske Automotive Group, Inc. will post $4.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 8th. Penske Automotive Group’s payout ratio is currently 30.55%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAG. Guggenheim Capital LLC raised its position in Penske Automotive Group by 31.8% in the fourth quarter. Guggenheim Capital LLC now owns 15,615 shares of the company’s stock worth $809,000 after buying an additional 3,766 shares in the last quarter. Norges Bank acquired a new position in Penske Automotive Group during the fourth quarter worth $10,158,000. Teachers Advisors LLC raised its position in Penske Automotive Group by 8.9% in the fourth quarter. Teachers Advisors LLC now owns 41,448 shares of the company’s stock worth $2,149,000 after buying an additional 3,387 shares in the last quarter. Macquarie Group Ltd. raised its position in Penske Automotive Group by 6.5% in the fourth quarter. Macquarie Group Ltd. now owns 19,700 shares of the company’s stock worth $1,021,000 after buying an additional 1,200 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Penske Automotive Group by 10.9% in the first quarter. Bank of Montreal Can now owns 2,787 shares of the company’s stock worth $131,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 39.26% of the company’s stock.
A number of analysts recently issued reports on the company. ValuEngine downgraded Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company reissued a “market perform” rating and set a $46.00 price target (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. BidaskClub raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Morgan Stanley lowered their price target on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.67.
About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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