Penske Automotive Group (NYSE:PAG) Stock Price Down 1.6% After Insider Selling

Penske Automotive Group, Inc. (NYSE:PAG) shares were down 1.6% during trading 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 changed hands 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 firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

PAG has been the subject of a number of research reports. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. 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. Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Stock Performance

The business has a 50-day simple moving average of $163.29 and a 200 day simple moving average of $160.58. The firm has a market cap of $9.89 billion, a PE ratio of 10.78 and a beta of 1.24. 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 (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (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 business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Equities research analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

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

Institutional Investors Weigh In On Penske Automotive Group

A number of hedge funds have recently made changes to their positions in PAG. Burgundy Asset Management Ltd. raised its position in shares of Penske Automotive Group by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock valued at $122,998,000 after buying an additional 13,106 shares in the last quarter. CSS LLC IL lifted its position in shares of Penske Automotive Group by 42.9% during the fourth quarter. CSS LLC IL now owns 2,650 shares of the company’s stock worth $404,000 after purchasing an additional 796 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Penske Automotive Group by 14.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company’s stock valued at $10,028,000 after buying an additional 8,438 shares during the period. Voloridge Investment Management LLC grew its stake in Penske Automotive Group by 4.4% in the fourth quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company’s stock worth $20,430,000 after purchasing an additional 5,669 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Penske Automotive Group by 4.7% during the 4th quarter. Squarepoint Ops LLC now owns 19,643 shares of the company’s stock worth $2,994,000 after buying an additional 873 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other 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.