Michelle Hulgrave Sells 2,100 Shares of Penske Automotive Group (NYSE:PAG) Stock

Penske Automotive Group, Inc. (NYSE:PAG) CFO Michelle Hulgrave sold 2,100 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.17, for a total value of $336,357.00. Following the completion of the sale, the chief financial officer owned 16,822 shares in the company, valued at $2,694,379.74. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Penske Automotive Group Stock Performance

NYSE:PAG traded up $4.93 on Tuesday, reaching $163.09. 225,480 shares of the company’s stock were exchanged, compared to its average volume of 243,180. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 11.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.21. The stock has a fifty day simple moving average of $166.43 and a 200-day simple moving average of $171.50. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $189.51.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.25). The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $3.39 EPS. As a group, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.32. This represents a $5.52 annualized dividend and a dividend yield of 3.4%. Penske Automotive Group’s payout ratio is presently 38.85%.

Analyst Upgrades and Downgrades

PAG has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of Penske Automotive Group in a report on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. JPMorgan Chase & Co. cut their target price on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Benchmark increased their price target on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Finally, Morgan Stanley upped their price objective on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.86.

Institutional Investors Weigh In On Penske Automotive Group

A number of large investors have recently modified their holdings of the stock. Rothschild Investment LLC raised its stake in Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after buying an additional 159 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Penske Automotive Group in the 3rd quarter worth approximately $33,000. Sound Income Strategies LLC purchased a new position in shares of Penske Automotive Group in the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new position in shares of Penske Automotive Group in the 1st quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Penske Automotive Group by 237.0% during the third quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock valued at $54,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

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.