Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 3.2% during the third quarter, Holdings Channel reports. The firm owned 2,030,611 shares of the company’s stock after selling 66,365 shares during the period. Vanguard Group Inc.’s holdings in Penske Automotive Group were worth $339,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in Penske Automotive Group by 113.6% during 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 in the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of Penske Automotive Group in the 3rd quarter valued at $35,000. Grove Bank & Trust increased its holdings in shares of 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 acquiring an additional 125 shares during the period. Quantbot Technologies LP acquired a new position in shares of Penske Automotive Group in the 2nd quarter valued at $55,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Penske Automotive Group in the 1st quarter valued at $58,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,604 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the sale, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The disclosure for this sale can be found here. 46.60% of the stock is currently owned by insiders.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $158.04 on Wednesday. The firm’s fifty day moving average price is $152.37 and its 200 day moving average price is $153.99. Penske Automotive Group, Inc. has a 1-year low of $133.21 and a 1-year high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 10.21 and a beta of 1.19.

Penske Automotive Group (NYSE:PAGGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $7.18 billion. During the same quarter last year, the business earned $4.21 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.83 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Wednesday, February 14th. Penske Automotive Group’s dividend payout ratio (DPR) is 22.48%.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Penske Automotive Group presently has an average rating of “Hold” and a consensus price target of $168.20.

Check Out Our Latest Research Report on Penske Automotive Group

Penske Automotive Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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