Penske Automotive Group (NYSE:PAG) Director Greg Smith Sells 1,488 Shares

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

Penske Automotive Group Stock Up 1.6%

Penske Automotive Group stock opened at $158.92 on Thursday. Penske Automotive Group, Inc. has a twelve month low of $140.12 and a twelve month high of $189.51. The stock has a 50 day moving average of $156.27 and a two-hundred day moving average of $160.27. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.03 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same period last year, the company earned $3.66 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.44 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th will be issued a dividend of $1.42 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, May 26th. Penske Automotive Group’s dividend payout ratio is 41.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PAG shares. Citigroup increased their price target on Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Stephens increased their price target on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $190.00 price target on shares of Penske Automotive Group in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.86.

Institutional Trading of Penske Automotive Group

Several hedge funds have recently modified their holdings of PAG. Diamant Asset Management Inc. lifted its holdings in shares of Penske Automotive Group by 14,852.0% in the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after buying an additional 878,496 shares during the period. Bank of Montreal Can lifted its holdings in shares of Penske Automotive Group by 39,232.7% in the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock valued at $136,660,000 after buying an additional 861,157 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Penske Automotive Group by 48.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after buying an additional 456,611 shares during the period. Norges Bank acquired a new stake in shares of Penske Automotive Group in the 4th quarter valued at approximately $32,137,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Penske Automotive Group by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock valued at $204,761,000 after buying an additional 156,308 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

About Penske Automotive Group

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.