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

Kendall Capital Management trimmed its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the last quarter. True Wealth Design LLC increased its stake in Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. increased its stake in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Penske Automotive Group in the third quarter valued at $94,000. Finally, Capital Performance Advisors LLP acquired a new position in Penske Automotive Group in the third quarter valued at $112,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAG has been the subject of several analyst reports. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Finally, Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.50.

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction dated 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 owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of NYSE:PAG opened at $168.98 on Friday. The firm has a market capitalization of $11.28 billion, a PE ratio of 12.29 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The business has a 50-day moving average of $162.77 and a two-hundred day moving average of $160.80. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $3.37 by $0.17. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, 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 announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $1.22 dividend. 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. This represents a $4.88 annualized dividend and a dividend yield of 2.89%. Penske Automotive Group’s dividend payout ratio is presently 35.49%.

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.