Penske Automotive Group, Inc. (NYSE:PAG) Director Greg C. Smith Sells 1,529 Shares

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) Director Greg C. Smith sold 1,529 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $161.64, for a total transaction of $247,147.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Penske Automotive Group Stock Up 1.4%

NYSE PAG traded up $2.21 during trading on Friday, hitting $164.88. The stock had a trading volume of 293,230 shares, compared to its average volume of 199,271. The company has a market capitalization of $10.91 billion, a PE ratio of 11.99 and a beta of 0.91. The company's 50-day moving average price is $156.72 and its two-hundred day moving average price is $159.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 12 month low of $134.05 and a 12 month high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.27 by $0.12. The firm had revenue of $7.60 billion for the quarter, compared to analysts' expectations of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.21 EPS. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th were paid a $1.26 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.04 annualized dividend and a yield of 3.06%. Penske Automotive Group's payout ratio is presently 35.49%.

Penske Automotive Group declared that its board has authorized a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on PAG. Citigroup upped their price objective on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, May 19th. JPMorgan Chase & Co. cut their price objective on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Stephens reiterated an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a report on Monday, May 5th. Finally, Wall Street Zen upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Penske Automotive Group has a consensus rating of "Moderate Buy" and a consensus price target of $167.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Penske Automotive Group in the 4th quarter valued at $40,000. Acadian Asset Management LLC acquired a new position in Penske Automotive Group in the 1st quarter valued at $42,000. UMB Bank n.a. grew its holdings in Penske Automotive Group by 421.5% in the 1st quarter. UMB Bank n.a. now owns 339 shares of the company's stock valued at $49,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Penske Automotive Group by 51.9% during the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company's stock valued at $57,000 after acquiring an additional 136 shares during the period. Finally, Brooklyn Investment Group lifted its position in shares of Penske Automotive Group by 353.0% during the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company's stock valued at $65,000 after acquiring an additional 353 shares during the period. 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.