John Barr Sells 1,529 Shares of Penske Automotive Group, Inc. (NYSE:PAG) Stock

Penske Automotive Group, Inc. (NYSE:PAG) Director John Barr sold 1,529 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Penske Automotive Group Stock Down 1.5 %

NYSE:PAG traded down $2.27 during mid-day trading on Friday, reaching $146.78. The company’s stock had a trading volume of 36,755 shares, compared to its average volume of 201,733. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $9.80 billion, a PE ratio of 10.67 and a beta of 1.24. The stock has a fifty day moving average of $163.29 and a 200-day moving average of $160.58. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Equities research analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group’s payout ratio is 35.49%.

Analysts Set New Price Targets

PAG has been the topic of a number of analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Benchmark started coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average target price of $172.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after buying an additional 10,663 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Penske Automotive Group in the fourth quarter worth $240,000. Cerity Partners LLC increased its stake in Penske Automotive Group by 176.1% during the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after buying an additional 8,504 shares during the period. Blue Trust Inc. grew its holdings in Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after acquiring an additional 269 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth $287,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.