Penske Automotive Group (NYSE:PAG) Shares Down 1.6% Following Insider Selling

Penske Automotive Group, Inc. (NYSE:PAG) was down 1.6% on Friday after an insider sold shares in the company. The company traded as low as $143.03 and last traded at $146.69. Approximately 38,560 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 177,112 shares. The stock had previously closed at $149.04.

Specifically, Director John Barr sold 1,529 shares of the stock in a transaction on 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 filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Benchmark started coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating on the stock. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Stephens reissued an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $172.50.

Penske Automotive Group Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a fifty day moving average price of $163.29 and a 200 day moving average price of $160.58. The company has a market capitalization of $9.84 billion, a P/E ratio of 10.72 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 analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. On average, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Institutional Trading of Penske Automotive Group

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake 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. Whittier Trust Co. of Nevada Inc. acquired a new stake in Penske Automotive Group in the 4th quarter valued at approximately $40,000. True Wealth Design LLC raised its stake in Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its position in Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after acquiring an additional 453 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Penske Automotive Group during the 4th quarter worth $76,000. 77.08% of the stock is currently owned by institutional investors.

About Penske Automotive Group

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.