Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Kendall Capital Management

Kendall Capital Management reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,720 shares of the company’s stock after selling 1,725 shares during the quarter. Kendall Capital Management’s holdings in Penske Automotive Group were worth $1,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC boosted its position in shares of Penske Automotive Group by 10.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,878 shares of the company’s stock worth $286,000 after buying an additional 170 shares during the period. Inceptionr LLC increased its stake in shares of Penske Automotive Group by 92.1% in the fourth quarter. Inceptionr LLC now owns 9,281 shares of the company’s stock worth $1,415,000 after purchasing an additional 4,449 shares during the period. Raymond James Financial Inc. bought a new position in shares of Penske Automotive Group in the fourth quarter worth about $3,018,000. Proficio Capital Partners LLC bought a new position in shares of Penske Automotive Group in the fourth quarter worth about $3,765,000. Finally, Victory Capital Management Inc. grew its position in Penske Automotive Group by 174.9% during the fourth quarter. Victory Capital Management Inc. now owns 40,998 shares of the company’s stock worth $6,250,000 after buying an additional 26,085 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Stock Up 1.3 %

Shares of PAG stock opened at $168.98 on Friday. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 12.29 and a beta of 1.24. The firm’s 50-day moving average is $162.77 and its 200-day moving average is $160.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 2.89%. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.50.

Insider Buying and Selling

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.70% of the stock is currently owned by company insiders.

Penske Automotive Group Company Profile

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.