Insider Selling: Penske Automotive Group, Inc. (NYSE:PAG) Director Sells $580,300.00 in Stock

Penske Automotive Group, Inc. (NYSE:PAGGet Rating) Director John Barr sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $116.06, for a total value of $580,300.00. Following the transaction, the director now directly owns 3,683 shares in the company, valued at approximately $427,448.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Penske Automotive Group Stock Performance

PAG opened at $115.72 on Friday. The business’s 50-day moving average price is $111.27 and its two-hundred day moving average price is $105.20. Penske Automotive Group, Inc. has a 1 year low of $83.48 and a 1 year high of $123.60. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 6.38 and a beta of 1.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.26.

Penske Automotive Group (NYSE:PAGGet Rating) last released its earnings results on Wednesday, July 27th. The company reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.46. Penske Automotive Group had a return on equity of 34.68% and a net margin of 5.28%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the business earned $4.47 earnings per share. Penske Automotive Group’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Penske Automotive Group, Inc. will post 17.94 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.83%. Penske Automotive Group’s dividend payout ratio (DPR) is 11.02%.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds have recently bought and sold shares of the stock. Atlas Capital Advisors LLC acquired a new stake in shares of Penske Automotive Group in the first quarter valued at approximately $26,000. Janiczek Wealth Management LLC raised its position in Penske Automotive Group by 137.9% during the second quarter. Janiczek Wealth Management LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares in the last quarter. First Quadrant LLC CA bought a new stake in shares of Penske Automotive Group during the first quarter worth $33,000. Quadrant Capital Group LLC grew its stake in shares of Penske Automotive Group by 32.8% in the first quarter. Quadrant Capital Group LLC now owns 413 shares of the company’s stock worth $39,000 after purchasing an additional 102 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Penske Automotive Group by 651.6% in the second quarter. Exchange Traded Concepts LLC now owns 466 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the last quarter. 50.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Penske Automotive Group from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, July 14th. StockNews.com downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Penske Automotive Group has a consensus rating of “Hold” and an average price target of $110.25.

Penske Automotive Group Company Profile

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Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.

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