Penske Automotive Group (NYSE:PAG) Stock Price Down 1.6% Following Insider Selling

Penske Automotive Group, Inc. (NYSE:PAG) traded down 1.6% on Friday following insider selling activity. The stock traded as low as $143.03 and last traded at $146.69. 38,560 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 177,112 shares. The stock had previously closed at $149.04.

Specifically, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PAG shares. Benchmark started coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock. Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Penske Automotive Group presently has an average rating of “Moderate Buy” and a consensus price target of $172.50.

Penske Automotive Group Trading Down 0.5 %

The firm has a fifty day simple moving average of $163.24 and a two-hundred day simple moving average of $160.38. The firm has a market capitalization of $9.89 billion, a P/E ratio of 10.78 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $1.22 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 3.29%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Penske Automotive Group in the fourth quarter worth about $40,000. True Wealth Design LLC lifted its holdings in Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after buying an additional 445 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in shares of Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Penske Automotive Group during the fourth quarter valued at approximately $76,000. 77.08% of the stock is owned by institutional investors.

About Penske Automotive Group

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.