Insider Selling: Penske Automotive Group, Inc. (NYSE:PAG) Director Sells 1,529 Shares of Stock

Penske Automotive Group, Inc. (NYSE:PAG) Director John Barr sold 1,529 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Penske Automotive Group Stock Performance

Shares of PAG opened at $148.24 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $180.12. The company has a 50-day simple moving average of $163.24 and a two-hundred day simple moving average of $160.32. The firm has a market capitalization of $9.89 billion, a PE ratio of 10.78 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping the consensus estimate 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 business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. On average, analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.29%. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Institutional Trading of Penske Automotive Group

Several institutional investors and hedge funds have recently bought and sold shares of PAG. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Penske Automotive Group during the fourth quarter valued at approximately $40,000. True Wealth Design LLC increased its stake in shares of 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 purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of 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 purchasing an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Penske Automotive Group during the fourth quarter valued at approximately $76,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PAG shares. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Benchmark started coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating for the company. StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Stephens reiterated an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $172.50.

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.