Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAGFree Report) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,045,016 shares of the company’s stock after selling 307,686 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.04% of Penske Automotive Group worth $328,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PAG. Venturi Wealth Management LLC raised its stake in Penske Automotive Group by 113.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Blue Trust Inc. grew its holdings in Penske Automotive Group by 91.2% in the 4th quarter. Blue Trust Inc. now owns 346 shares of the company’s stock valued at $58,000 after buying an additional 165 shares in the last quarter. C M Bidwell & Associates Ltd. grew its holdings in Penske Automotive Group by 305.5% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company’s stock valued at $173,000 after buying an additional 782 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Penske Automotive Group in the 3rd quarter valued at $218,000. Finally, SG Americas Securities LLC purchased a new stake in Penske Automotive Group in the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 3.0 %

PAG stock traded up $4.68 during mid-day trading on Monday, reaching $160.07. The company had a trading volume of 111,835 shares, compared to its average volume of 198,651. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 10.81 and a beta of 1.21. The firm has a fifty day simple moving average of $153.92 and a 200 day simple moving average of $153.16. Penske Automotive Group, Inc. has a fifty-two week low of $136.45 and a fifty-two week high of $180.84.

Penske Automotive Group (NYSE:PAGGet Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business earned $4.31 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts forecast that Penske Automotive Group, Inc. will post 13.49 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 20th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.87. Penske Automotive Group’s dividend payout ratio (DPR) is presently 24.20%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PAG. Morgan Stanley increased their price target on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America increased their price target 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 analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Penske Automotive Group currently has an average rating of “Hold” and a consensus target price of $163.20.

View Our Latest Stock Analysis on Penske Automotive Group

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Greg C. Smith sold 1,604 shares of the firm’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 transaction, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Barr sold 1,600 shares of the 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 completion of the sale, the director now directly owns 716 shares in the company, valued at $110,299.80. The disclosure for this sale can be found here. Corporate insiders own 52.20% of the company’s stock.

Penske Automotive Group 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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