Manchester Capital Management LLC Sells 85 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Manchester Capital Management LLC reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 565 shares of the company’s stock after selling 85 shares during the quarter. Manchester Capital Management LLC’s holdings in Penske Automotive Group were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 81 shares during the period. True Wealth Design LLC raised its position in shares of 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 purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. raised its position in shares of 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 purchasing an additional 453 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group in the third quarter valued at about $94,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Penske Automotive Group in the third quarter valued at about $112,000. 77.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Penske Automotive Group currently has an average rating of “Hold” and a consensus price target of $170.25.

Penske Automotive Group Trading Down 1.0 %

PAG stock opened at $174.17 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company’s 50-day simple moving average is $160.49 and its 200 day simple moving average is $160.41. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $180.12. The company has a market capitalization of $11.63 billion, a PE ratio of 13.35 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. As a group, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.51 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.80%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, February 24th. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

Penske Automotive Group 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.