Insider Selling: Penske Automotive Group, Inc. (NYSE:PAG) EVP Sells 8,746 Shares of Stock

Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Penske Automotive Group Stock Performance

NYSE PAG opened at $169.75 on Thursday. The stock has a fifty day simple moving average of $160.97 and a 200-day simple moving average of $160.45. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The stock has a market cap of $11.33 billion, a PE ratio of 12.35 and a beta of 1.20. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. Equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be given a $1.22 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 2.87%. Penske Automotive Group’s payout ratio is presently 35.49%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PAG. Janus Henderson Group PLC raised its holdings in shares of Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after buying an additional 10,663 shares during the period. Highland Capital Management LLC acquired a new position in Penske Automotive Group in the 4th quarter valued at about $240,000. Cerity Partners LLC increased its stake in Penske Automotive Group by 176.1% during the third quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after purchasing an additional 8,504 shares during the period. Blue Trust Inc. increased its stake in Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after purchasing an additional 269 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Penske Automotive Group by 188.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock worth $1,134,000 after purchasing an additional 4,559 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PAG shares. JPMorgan Chase & Co. upped their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a report on Wednesday. Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. Finally, Stephens reissued an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Penske Automotive Group presently has a consensus rating of “Hold” and an average price target of $172.50.

About Penske Automotive Group

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.