Penske Automotive Group (NYSE:PAG) Trading Down 5%

Shares of Penske Automotive Group, Inc. (NYSE:PAG) fell 5% on Tuesday . The company traded as low as $149.00 and last traded at $149.00. 44,078 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 189,756 shares. The stock had previously closed at $156.79.

Analyst Ratings Changes

PAG has been the subject of a number of research reports. Bank of America upped their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Penske Automotive Group currently has an average rating of “Hold” and a consensus price target of $162.75.

Penske Automotive Group Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $160.28 and a 200 day moving average price of $155.40. The firm has a market cap of $9.87 billion, a PE ratio of 10.14 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.59 billion. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.41 EPS. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.76%.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 716 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 51.70% of the stock is owned by insiders.

Institutional Trading of Penske Automotive Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in shares of Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after purchasing an additional 91 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Penske Automotive Group in the second quarter valued at $69,000. WFA Asset Management Corp purchased a new position in Penske Automotive Group in the first quarter valued at $84,000. Blue Trust Inc. grew its stake in Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after purchasing an additional 113 shares in the last quarter. Finally, NDVR Inc. purchased a new stake in Penske Automotive Group during the 4th quarter worth about $203,000. 77.08% of the stock is currently owned by hedge funds and other 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.