Treasurer of the State of North Carolina Sells 140 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Treasurer of the State of North Carolina cut its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,675 shares of the company’s stock after selling 140 shares during the period. Treasurer of the State of North Carolina’s holdings in Penske Automotive Group were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its stake in Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock valued at $58,000 after purchasing an additional 165 shares in the last quarter. C M Bidwell & Associates Ltd. increased its stake in Penske Automotive Group by 305.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company’s stock valued at $173,000 after acquiring an additional 782 shares during the last quarter. NDVR Inc. acquired a new position in Penske Automotive Group during the fourth quarter worth about $203,000. Atria Wealth Solutions Inc. acquired a new position in shares of Penske Automotive Group during the third quarter worth $218,000. Finally, Laurion Capital Management LP acquired a new position in shares of Penske Automotive Group in the third quarter valued at approximately $250,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Performance

NYSE PAG opened at $148.94 on Friday. The company has a fifty day moving average price of $153.11 and a 200-day moving average price of $153.55. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 10.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23. Penske Automotive Group, Inc. has a 1 year low of $137.95 and a 1 year high of $180.84.

Penske Automotive Group (NYSE:PAGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the previous year, the company posted $4.31 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 13.37 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 20th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, May 17th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 26.70%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $163.20.

Read Our Latest Stock Report on PAG

Insider Buying and Selling

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 stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now owns 716 shares of the company’s stock, valued at $110,299.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 51.70% of the stock is currently owned by corporate insiders.

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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