Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III Sells 5,000 Shares
Penske Automotive Group, Inc. (NYSE:PAG) EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $41.27, for a total value of $206,350.00. Following the completion of the transaction, the executive vice president now directly owns 22,243 shares in the company, valued at $917,968.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Penske Automotive Group, Inc. (NYSE PAG) traded down 1.42% on Thursday, hitting $40.86. The stock had a trading volume of 26,250 shares. The firm’s 50 day moving average is $43.38 and its 200-day moving average is $46.36. Penske Automotive Group, Inc. has a one year low of $40.37 and a one year high of $56.05. The stock has a market capitalization of $3.51 billion, a PE ratio of 9.74 and a beta of 1.48.
Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.44 billion. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. Penske Automotive Group’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities research analysts expect that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s payout ratio is currently 30.55%.
Several research analysts have weighed in on the company. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $46.00 target price (down from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. BidaskClub raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine lowered Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Gabelli raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $52.67.
Several hedge funds have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC bought a new stake in Penske Automotive Group during the second quarter worth about $524,000. LSV Asset Management increased its stake in Penske Automotive Group by 4.2% in the second quarter. LSV Asset Management now owns 2,516,387 shares of the company’s stock worth $110,494,000 after buying an additional 100,380 shares in the last quarter. Northwestern Mutual Investment Management Company LLC bought a new stake in Penske Automotive Group during the second quarter worth about $14,689,000. JPMorgan Chase & Co. increased its stake in Penske Automotive Group by 28.8% in the second quarter. JPMorgan Chase & Co. now owns 215,639 shares of the company’s stock worth $9,469,000 after buying an additional 48,242 shares in the last quarter. Finally, Private Management Group Inc. increased its stake in Penske Automotive Group by 3.7% in the second quarter. Private Management Group Inc. now owns 538,565 shares of the company’s stock worth $23,648,000 after buying an additional 19,313 shares in the last quarter. 39.26% of the stock is currently owned by institutional investors and hedge funds.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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