Petrus Trust Company LTA acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,584 shares of the company's stock, valued at approximately $516,000.
Other large investors also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Penske Automotive Group by 421.5% during the first quarter. UMB Bank n.a. now owns 339 shares of the company's stock worth $49,000 after purchasing an additional 274 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Penske Automotive Group by 51.9% during the first quarter. GAMMA Investing LLC now owns 398 shares of the company's stock worth $57,000 after purchasing an additional 136 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Penske Automotive Group by 353.0% during the first quarter. Brooklyn Investment Group now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 353 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Penske Automotive Group by 31.0% during the first quarter. Fifth Third Bancorp now owns 528 shares of the company's stock worth $76,000 after purchasing an additional 125 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Penske Automotive Group during the fourth quarter worth $105,000. Institutional investors own 77.08% of the company's stock.
Insider Buying and Selling at Penske Automotive Group
In other Penske Automotive Group news, Director Lisa Ann Davis sold 1,604 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $180.74, for a total value of $289,906.96. Following the sale, the director directly owned 1,529 shares of the company's stock, valued at approximately $276,351.46. This represents a 51.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michelle Hulgrave sold 1,100 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total transaction of $200,805.00. Following the completion of the sale, the chief financial officer directly owned 18,922 shares in the company, valued at approximately $3,454,211.10. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.
Penske Automotive Group Stock Performance
Shares of PAG traded down $4.27 during trading hours on Friday, reaching $181.14. 66,862 shares of the company traded hands, compared to its average volume of 235,951. The stock has a market capitalization of $11.96 billion, a P/E ratio of 12.61 and a beta of 0.89. The company has a quick ratio of 0.21, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $189.51. The business has a fifty day moving average price of $179.07 and a 200-day moving average price of $166.48.
Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 earnings per share for the quarter, beating analysts' consensus estimates of $3.56 by $0.22. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same period in the previous year, the company earned $3.61 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.
Penske Automotive Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.26. This represents a $5.28 annualized dividend and a yield of 2.9%. Penske Automotive Group's dividend payout ratio is currently 36.74%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on PAG. JPMorgan Chase & Co. raised Penske Automotive Group from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $155.00 to $175.00 in a research report on Tuesday, August 5th. Stephens reaffirmed an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a research report on Wednesday, June 11th. Bank of America upped their price target on Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Morgan Stanley boosted their price objective on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Citigroup boosted their price objective on shares of Penske Automotive Group from $185.00 to $195.00 and gave the company a "buy" rating in a report on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.00.
View Our Latest Analysis on PAG
About Penske Automotive Group
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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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