Cooper Financial Group Reduces Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Cooper Financial Group lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,030 shares of the company’s stock after selling 1,288 shares during the period. Cooper Financial Group’s holdings in Penske Automotive Group were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of PAG. Moneta Group Investment Advisors LLC acquired a new position in Penske Automotive Group during the 4th quarter worth about $260,702,000. Envestnet Asset Management Inc. raised its position in Penske Automotive Group by 3,459.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock valued at $1,783,000 after purchasing an additional 601,536 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Penske Automotive Group by 491.7% in the 1st quarter. Balyasny Asset Management L.P. now owns 348,863 shares of the company’s stock valued at $49,472,000 after purchasing an additional 289,902 shares in the last quarter. Norges Bank acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $25,163,000. Finally, Price T Rowe Associates Inc. MD raised its position in Penske Automotive Group by 2,465.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 205,296 shares of the company’s stock valued at $21,492,000 after purchasing an additional 197,293 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now owns 716 shares of the company’s stock, valued at $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Greg C. Smith sold 1,604 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the transaction, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now directly owns 716 shares in the company, valued at $110,299.80. The disclosure for this sale can be found here. Insiders own 46.60% of the company’s stock.

Penske Automotive Group Trading Down 1.2 %

NYSE:PAG opened at $158.46 on Monday. Penske Automotive Group, Inc. has a 52-week low of $128.53 and a 52-week high of $180.84. The stock’s 50 day moving average price is $152.03 and its 200 day moving average price is $154.01. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $10.66 billion, a PE ratio of 10.24 and a beta of 1.19.

Penske Automotive Group (NYSE:PAGGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same period in the previous year, the business posted $4.21 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Penske Automotive Group, Inc. will post 13.83 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.87 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, February 14th. Penske Automotive Group’s dividend payout ratio (DPR) is currently 22.48%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price target on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Penske Automotive Group has a consensus rating of “Hold” and a consensus price target of $168.20.

Get Our Latest Stock Analysis on Penske Automotive Group

About Penske Automotive Group

(Free Report)

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.

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

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