Treasurer of the State of North Carolina Sells 310 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Treasurer of the State of North Carolina trimmed its position in Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 11,195 shares of the company’s stock after selling 310 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Penske Automotive Group were worth $1,287,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PAG. Edmp Inc. raised its position in Penske Automotive Group by 11,139.6% in the 4th quarter. Edmp Inc. now owns 4,383,538 shares of the company’s stock worth $38,141,000 after purchasing an additional 4,344,537 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Penske Automotive Group by 2,465.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 205,296 shares of the company’s stock valued at $21,492,000 after buying an additional 197,293 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 period. UBS Group AG increased its position in shares of Penske Automotive Group by 133.4% during the fourth quarter. UBS Group AG now owns 37,426 shares of the company’s stock valued at $4,301,000 after buying an additional 149,356 shares during the period. Finally, Invesco Ltd. increased its position in shares of 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 period. 32.66% of the stock is owned by institutional investors.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $145.31, for a total transaction of $290,620.00. Following the completion of the transaction, the director now directly owns 3,712 shares of the company’s stock, valued at $539,390.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Penske Automotive Group news, Director Kimberly J. Mcwaters sold 8,524 shares of Penske Automotive Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $141.53, for a total value of $1,206,401.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Barr sold 2,000 shares of Penske Automotive Group stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $145.31, for a total transaction of $290,620.00. Following the completion of the transaction, the director now directly owns 3,712 shares of the company’s stock, valued at $539,390.72. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on PAG shares. JPMorgan Chase & Co. boosted their price objective on shares of Penske Automotive Group from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 21st. StockNews.com initiated coverage on shares of Penske Automotive Group in a research note on Thursday. They issued a “buy” rating on the stock. Finally, Stephens upped their target price on shares of Penske Automotive Group from $140.00 to $155.00 in a research note on Thursday, February 9th.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $139.55 on Friday. The firm has a fifty day moving average price of $138.30 and a 200-day moving average price of $130.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.25. The stock has a market cap of $9.63 billion, a PE ratio of 7.73 and a beta of 1.22. Penske Automotive Group, Inc. has a 1 year low of $94.49 and a 1 year high of $155.36.

Penske Automotive Group (NYSE:PAG – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The company reported $4.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.28. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.02 billion. Penske Automotive Group had a net margin of 4.65% and a return on equity of 31.14%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.76 earnings per share. Equities analysts anticipate that Penske Automotive Group, Inc. will post 15.58 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 22nd will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.89%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, May 19th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 13.51%.

Penske Automotive Group Company Profile

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Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related parts and services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.