Penske Automotive Group, Inc. (NYSE:PAG) CEO Roger S. Penske Sells 77,357 Shares

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) CEO Roger S. Penske sold 77,357 shares of Penske Automotive Group stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $161.37, for a total value of $12,483,099.09. Following the transaction, the chief executive officer now owns 140,042 shares of the company's stock, valued at $22,598,577.54. This represents a 35.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Penske Automotive Group Stock Performance

Penske Automotive Group stock traded up $0.81 on Friday, hitting $163.48. The company's stock had a trading volume of 91,348 shares, compared to its average volume of 198,057. 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 company has a fifty day moving average price of $156.35 and a 200-day moving average price of $159.17. The firm has a market cap of $10.82 billion, a P/E ratio of 11.89 and a beta of 0.90. Penske Automotive Group, Inc. has a one year low of $134.05 and a one year high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.60 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same quarter in the previous year, the company posted $3.21 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Tuesday, May 27th. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on PAG shares. Stephens reaffirmed an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a research report on Monday, May 5th. Citigroup boosted their target price on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. reduced their price objective on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Finally, Wall Street Zen upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of "Moderate Buy" and an average target price of $167.00.

Institutional Investors Weigh In On Penske Automotive Group

Large investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group in the 4th quarter valued at about $40,000. Acadian Asset Management LLC bought a new position in Penske Automotive Group in the 1st quarter valued at approximately $42,000. UMB Bank n.a. raised its position in Penske Automotive Group by 421.5% in the first quarter. UMB Bank n.a. now owns 339 shares of the company's stock valued at $49,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC boosted its position in Penske Automotive Group by 51.9% during the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company's stock worth $57,000 after buying an additional 136 shares during the period. Finally, Brooklyn Investment Group raised its position in Penske Automotive Group by 353.0% during the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

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.