Claude H. Denker III Sells 8,746 Shares of Penske Automotive Group, Inc. (NYSE:PAG) Stock

Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $163.54 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12. The business has a fifty day simple moving average of $161.04 and a 200 day simple moving average of $160.52. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 11.89 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $7.56 billion. As a group, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 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, March 6th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is 34.62%.

Hedge Funds Weigh In On Penske Automotive Group

Several institutional investors have recently bought and sold shares of the stock. Burgundy Asset Management Ltd. raised its holdings in Penske Automotive Group by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock valued at $122,998,000 after buying an additional 13,106 shares in the last quarter. CSS LLC IL raised its holdings in Penske Automotive Group by 42.9% during the fourth quarter. CSS LLC IL now owns 2,650 shares of the company’s stock valued at $404,000 after buying an additional 796 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Penske Automotive Group by 14.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company’s stock valued at $10,028,000 after buying an additional 8,438 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Penske Automotive Group by 4.4% during the fourth quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company’s stock valued at $20,430,000 after buying an additional 5,669 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Penske Automotive Group by 4.7% during the fourth quarter. Squarepoint Ops LLC now owns 19,643 shares of the company’s stock valued at $2,994,000 after buying an additional 873 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAG has been the subject of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Benchmark started coverage on Penske Automotive Group in a 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 assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $172.50.

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.