Ethic Inc. Sells 325 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Ethic Inc. lowered its position in Penske Automotive Group, Inc. (NYSE:PAG) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,740 shares of the company’s stock after selling 325 shares during the quarter. Ethic Inc.’s holdings in Penske Automotive Group were worth $265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealthspire Advisors LLC grew its stake in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares in the last quarter. Blue Chip Partners LLC grew its stake in Penske Automotive Group by 0.7% in the fourth quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after purchasing an additional 73 shares in the last quarter. CIBC Asset Management Inc grew its stake in Penske Automotive Group by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 2,055 shares of the company’s stock worth $313,000 after purchasing an additional 109 shares in the last quarter. Xponance Inc. grew its stake in Penske Automotive Group by 4.0% in the fourth quarter. Xponance Inc. now owns 2,995 shares of the company’s stock worth $457,000 after purchasing an additional 115 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Penske Automotive Group by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 35,579 shares of the company’s stock worth $5,424,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

NYSE:PAG opened at $166.32 on Friday. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $180.12. 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 stock has a market capitalization of $11.00 billion, a PE ratio of 12.10 and a beta of 0.90. The stock’s 50-day moving average price is $152.47 and its 200-day moving average price is $158.68.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.68 billion. During the same period last year, the firm earned $3.21 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th will be given a dividend of $1.26 per share. The ex-dividend date is Tuesday, May 27th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.22. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.03%. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Insider Activity

In related news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 51.70% of the company’s stock.

Wall Street Analyst Weigh In

PAG has been the topic of several recent research reports. Stephens reaffirmed an “equal weight” rating and set a $140.00 target price on shares of Penske Automotive Group in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 23rd. Finally, Citigroup assumed coverage on Penske Automotive Group in a research note on Wednesday, April 23rd. They set a “buy” rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given 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 $165.00.

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.