Penske Automotive Group, Inc. (PAG) To Go Ex-Dividend on November 14th

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Wednesday, October 15th. Shareholders of record on Friday, November 14th will be paid a dividend of 1.38 per share on Tuesday, December 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, November 14th. This is a 4.5% increase from Penske Automotive Group’s previous quarterly dividend of $1.32.

Penske Automotive Group has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Penske Automotive Group has a dividend payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Penske Automotive Group to earn $14.38 per share next year, which means the company should continue to be able to cover its $5.52 annual dividend with an expected future payout ratio of 38.4%.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $157.78 on Wednesday. The firm has a market cap of $10.39 billion, a PE ratio of 11.10 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’s fifty day moving average price is $171.12 and its two-hundred day moving average price is $171.40. Penske Automotive Group has a one year low of $134.05 and a one year high of $189.51.

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

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total value of $200,805.00. Following the completion of the transaction, the chief financial officer directly owned 18,922 shares in the company, valued at approximately $3,454,211.10. This represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lisa Ann Davis sold 1,604 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $180.74, for a total transaction of $289,906.96. Following the transaction, the director directly owned 1,529 shares of the company’s stock, valued at $276,351.46. The trade was a 51.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 52.40% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently made changes to their positions in PAG. Rothschild Investment LLC increased its stake in shares of Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock valued at $31,000 after buying an additional 159 shares during the period. Root Financial Partners LLC bought a new stake in Penske Automotive Group in the third quarter valued at approximately $33,000. Sound Income Strategies LLC bought a new stake in Penske Automotive Group in the second quarter valued at approximately $34,000. Acadian Asset Management LLC acquired a new stake in Penske Automotive Group during the 1st quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC raised its holdings in Penske Automotive Group by 237.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock worth $54,000 after purchasing an additional 218 shares during 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.