Allworth Financial LP Has $223,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Allworth Financial LP trimmed its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 18.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,390 shares of the company’s stock after selling 309 shares during the quarter. Allworth Financial LP’s holdings in Penske Automotive Group were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC grew its holdings in Penske Automotive Group by 113.6% in the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Penske Automotive Group in the 3rd quarter valued at about $35,000. Grove Bank & Trust increased its position in Penske Automotive Group by 100.0% in the 3rd quarter. Grove Bank & Trust now owns 250 shares of the company’s stock valued at $42,000 after buying an additional 125 shares in the last quarter. Quantbot Technologies LP acquired a new position in Penske Automotive Group during the 2nd quarter worth approximately $55,000. Finally, Blue Trust Inc. boosted its holdings in Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $150.50 on Friday. The company has a market cap of $10.09 billion, a PE ratio of 9.72 and a beta of 1.19. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Penske Automotive Group, Inc. has a 52 week low of $133.72 and a 52 week high of $180.84. The business has a 50 day moving average price of $153.22 and a 200-day moving average price of $153.55.

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

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a yield of 2.31%. Penske Automotive Group’s payout ratio is 22.48%.

Insiders Place Their Bets

In other news, 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 owns 716 shares in the company, valued at approximately $110,299.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the transaction, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated 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 sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Bank of America boosted their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $163.20.

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.