Barclays PLC Trims Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Barclays PLC lowered its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 38.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,674 shares of the company's stock after selling 31,060 shares during the quarter. Barclays PLC owned 0.07% of Penske Automotive Group worth $7,572,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Penske Automotive Group in the 4th quarter valued at $22,049,000. Moran Wealth Management LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $14,157,000. Bank of New York Mellon Corp boosted its position in Penske Automotive Group by 24.4% during the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after purchasing an additional 51,720 shares during the period. American Century Companies Inc. lifted its position in Penske Automotive Group by 17.4% during the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock worth $39,560,000 after acquiring an additional 38,388 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Penske Automotive Group by 174.9% during the 4th quarter. Victory Capital Management Inc. now owns 40,998 shares of the company's stock worth $6,250,000 after buying an additional 26,085 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Down 0.9 %

PAG stock traded down $1.39 during trading on Tuesday, hitting $156.48. 24,360 shares of the company's stock traded hands, compared to its average volume of 194,857. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $180.12. The business has a fifty day simple moving average of $154.21 and a two-hundred day simple moving average of $158.16. 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 firm has a market capitalization of $10.44 billion, a P/E ratio of 11.38 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts' consensus estimates of $3.37 by $0.17. The company had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.12%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Barr sold 1,529 shares of the firm's 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 disclosure for this sale can be found here. Company insiders own 51.70% of the company's stock.

Analyst Ratings Changes

PAG has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Citigroup initiated coverage on Penske Automotive Group in a report on Wednesday, April 23rd. They issued a "buy" rating and a $185.00 price target for the company. Finally, Stephens restated an "equal weight" rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Penske Automotive Group presently has an average rating of "Moderate Buy" and an average target price of $170.00.

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.