Penske Automotive Group (NYSE:PAG) Director Lisa Ann Davis Sells 1,604 Shares

Key Points

• Director Lisa Ann Davis sold 1,604 shares of Penske Automotive Group stock at an average price of $180.74, reducing her ownership by 51.20%.
• Penske Automotive Group declared a quarterly dividend of $1.32 per share, an increase from their previous dividend of $1.26, with a current yield of 2.9%.
• The company recently announced a stock buyback plan to repurchase up to $250 million in shares, indicating management's confidence in the firm's valuation.

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) Director Lisa Ann Davis sold 1,604 shares of the business's stock in a transaction dated 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 owned 1,529 shares in the company, valued at approximately $276,351.46. The trade was a 51.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Penske Automotive Group Stock Performance

Penske Automotive Group stock traded up $6.1150 during trading hours on Friday, hitting $187.1050. 237,765 shares of the stock traded hands, compared to its average volume of 240,553. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.90 and a quick ratio of 0.21. The firm's 50 day moving average price is $175.89 and its 200-day moving average price is $164.81. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 13.02 and a beta of 0.87. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $188.43.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.22. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.98 billion. Penske Automotive Group had a return on equity of 17.43% and a net margin of 3.13%.The company's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.61 EPS. As a group, equities analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a $1.32 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.28 annualized dividend and a dividend yield of 2.8%. Penske Automotive Group's payout ratio is presently 36.74%.

Penske Automotive Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Penske Automotive Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its position in shares of Penske Automotive Group by 9.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,367 shares of the company's stock worth $485,000 after buying an additional 295 shares during the period. Two Sigma Investments LP boosted its position in shares of Penske Automotive Group by 21.0% in the fourth quarter. Two Sigma Investments LP now owns 10,253 shares of the company's stock worth $1,563,000 after buying an additional 1,777 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Penske Automotive Group by 15.8% during the first quarter. Teacher Retirement System of Texas now owns 12,006 shares of the company's stock worth $1,729,000 after acquiring an additional 1,639 shares in the last quarter. KBC Group NV raised its holdings in shares of Penske Automotive Group by 33.4% during the first quarter. KBC Group NV now owns 999 shares of the company's stock worth $144,000 after acquiring an additional 250 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Penske Automotive Group during the first quarter worth $648,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PAG shares. 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 report on Tuesday, August 5th. Bank of America raised their price objective on Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Stephens reiterated 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. Morgan Stanley lifted their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Citigroup boosted their price objective on Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.00.

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.