Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III Sells 8,746 Shares

Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $169.75 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $180.12. The business’s 50 day moving average is $160.97 and its two-hundred day moving average is $160.45. The company has a market capitalization of $11.33 billion, a P/E ratio of 12.35 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. Analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be paid a dividend of $1.22 per share. The ex-dividend date is Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.87%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s payout ratio is currently 35.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PAG. GAMMA Investing LLC raised its holdings 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 acquiring an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Penske Automotive Group during the fourth quarter worth approximately $40,000. True Wealth Design LLC raised its stake in Penske Automotive Group by 14,833.3% in the 3rd 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 last quarter. Transamerica Financial Advisors Inc. lifted its holdings in Penske Automotive Group by 45,300.0% in the 3rd 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 acquired a new stake in Penske Automotive Group during the 4th quarter worth $76,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. Stephens reaffirmed an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $172.50.

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.