Penske Automotive Group (NYSE:PAG) CFO Michelle Hulgrave Sells 1,500 Shares

Penske Automotive Group, Inc. (NYSE:PAG) CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the transaction, the chief financial officer owned 17,596 shares in the company, valued at $3,022,992.80. The trade was a 7.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $172.02 on Thursday. Penske Automotive Group, Inc. has a 12 month low of $140.12 and a 12 month high of $189.51. The firm has a market capitalization of $11.31 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 2.23 and a beta of 0.87. The business’s fifty day simple moving average is $160.63 and its 200 day simple moving average is $160.93. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The company had revenue of $7.86 billion for 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 business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.66 EPS. As a group, analysts anticipate that Penske Automotive Group, Inc. will post 13.46 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 26th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.40. Penske Automotive Group’s payout ratio is currently 42.39%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAG. Stephens lifted 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 note on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating and issued a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday, May 7th. Citigroup boosted their target price on shares of Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Finally, UBS Group initiated coverage on Penske Automotive Group in a research note on Wednesday, May 27th. They set a “neutral” rating and a $167.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.63.

Institutional Trading of Penske Automotive Group

Several institutional investors and hedge funds have recently modified their holdings of PAG. Navalign LLC bought a new position in shares of Penske Automotive Group in the fourth quarter worth approximately $26,000. International Assets Investment Management LLC bought a new position in shares of Penske Automotive Group in the 4th quarter worth $30,000. Rothschild Investment LLC raised its position in shares of Penske Automotive Group by 935.3% during the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock valued at $31,000 after buying an additional 159 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Penske Automotive Group during the 1st quarter worth $42,000. Finally, Global Retirement Partners LLC grew its position in Penske Automotive Group by 186.6% in the fourth quarter. Global Retirement Partners LLC now owns 321 shares of the company’s stock worth $51,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

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.