Brookstone Capital Management Sells 700 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Brookstone Capital Management decreased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAGGet Rating) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 6,655 shares of the company’s stock after selling 700 shares during the quarter. Brookstone Capital Management’s holdings in Penske Automotive Group were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAG. American Century Companies Inc. lifted its position in Penske Automotive Group by 13.9% during the first quarter. American Century Companies Inc. now owns 1,921,865 shares of the company’s stock valued at $180,117,000 after purchasing an additional 234,447 shares during the period. Goldman Sachs Group Inc. increased its holdings in Penske Automotive Group by 38.2% during the first quarter. Goldman Sachs Group Inc. now owns 663,385 shares of the company’s stock valued at $62,173,000 after buying an additional 183,493 shares during the last quarter. Invesco Ltd. increased its holdings in Penske Automotive Group by 162.7% during the first quarter. Invesco Ltd. now owns 134,180 shares of the company’s stock valued at $12,574,000 after buying an additional 83,097 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Penske Automotive Group by 92.3% during the fourth quarter. JPMorgan Chase & Co. now owns 117,429 shares of the company’s stock valued at $12,591,000 after buying an additional 56,361 shares during the last quarter. Finally, Shellback Capital LP purchased a new stake in Penske Automotive Group during the fourth quarter valued at approximately $3,259,000. Institutional investors own 33.07% of the company’s stock.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $116.06, for a total transaction of $580,300.00. Following the completion of the transaction, the director now directly owns 3,683 shares of the company’s stock, valued at $427,448.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 46.60% of the stock is currently owned by corporate insiders.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $103.53 on Friday. The firm has a fifty day moving average price of $113.81 and a 200-day moving average price of $108.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.26. The stock has a market cap of $7.68 billion, a PE ratio of 5.70, a price-to-earnings-growth ratio of 0.98 and a beta of 1.20. Penske Automotive Group, Inc. has a 1 year low of $88.58 and a 1 year high of $126.93.

Penske Automotive Group (NYSE:PAGGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.46. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Penske Automotive Group had a net margin of 5.28% and a return on equity of 34.68%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.47 earnings per share. Equities analysts anticipate that Penske Automotive Group, Inc. will post 18.16 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 10th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.05%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, August 9th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 11.68%.

Analysts Set New Price Targets

A number of brokerages have commented on PAG. StockNews.com cut shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Monday, August 1st. Morgan Stanley reduced 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 report on Thursday, July 14th. Finally, Bank of America reduced their target price on shares of Penske Automotive Group from $185.00 to $182.00 and set a “buy” rating for the company in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.60.

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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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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