Penske Automotive Group (NYSE:PAG) Director Sells $238,109.76 in Stock

Key Points

• Director Greg Smith sold shares: Penske Automotive Group director Greg Smith sold 1,488 shares on May 18 at an average price of $160.02, totaling about $238,109.76.
• Recent earnings beat estimates: The company reported quarterly EPS of $3.05, topping analysts’ expectation of $2.91, and revenue of $7.86 billion, also above forecasts. Revenue was still down 1.1% year over year.
• Dividend was raised: Penske Automotive Group increased its quarterly dividend to $1.42 per share from $1.40, translating to an annualized payout of $5.68 and a yield of about 3.6%.

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) Director Greg Smith sold 1,488 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Penske Automotive Group Trading Down 2.0%

PAG opened at $156.51 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. Penske Automotive Group, Inc. has a one year low of $140.12 and a one year high of $189.51. The company has a market cap of $10.29 billion, a P/E ratio of 11.68, a PEG ratio of 2.07 and a beta of 0.90. The business's 50-day simple moving average is $156.22 and its 200-day simple moving average is $160.29.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.14. The firm had revenue of $7.86 billion during the quarter, compared to analysts' expectations of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.66 earnings per share. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 13.44 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.6%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, May 26th. Penske Automotive Group's dividend payout ratio is presently 41.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PAG. PNC Financial Services Group Inc. lifted its holdings in shares of Penske Automotive Group by 2.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company's stock worth $561,000 after purchasing an additional 65 shares during the period. Aptus Capital Advisors LLC raised its position in Penske Automotive Group by 5.4% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company's stock worth $219,000 after buying an additional 65 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Penske Automotive Group by 8.5% in the 1st quarter. Bessemer Group Inc. now owns 830 shares of the company's stock worth $124,000 after acquiring an additional 65 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company's stock valued at $3,167,000 after acquiring an additional 65 shares in the last quarter. Finally, Rothschild Investment LLC boosted its holdings in shares of Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company's stock valued at $38,000 after acquiring an additional 66 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PAG. Morgan Stanley reiterated an "overweight" rating and set a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on Penske Automotive Group from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings downgraded Penske Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 16th. Stephens raised their target price on shares of Penske Automotive Group from $155.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Finally, Barclays cut their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $184.86.

About Penske Automotive Group

Penske Automotive Group, Inc NYSE: PAG, headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.

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