Penske Automotive Group, Inc. $PAG Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 35.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,810 shares of the company’s stock after selling 2,684 shares during the period. Entropy Technologies LP’s holdings in Penske Automotive Group were worth $719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Navalign LLC purchased a new position in shares of Penske Automotive Group during the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new stake in Penske Automotive Group in the 4th quarter worth $30,000. Rothschild Investment LLC increased its holdings in Penske Automotive Group by 37.5% in the 4th quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after acquiring an additional 66 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Penske Automotive Group during the first quarter worth $42,000. Finally, Global Retirement Partners LLC raised its position in Penske Automotive Group by 186.6% during 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 during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total transaction of $238,109.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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. This represents a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 52.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PAG. Barclays lifted their target price on shares of Penske Automotive Group from $190.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Bank of America upped their price target on shares of Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. UBS Group set a $190.00 price target on shares of Penske Automotive Group in a research note on Friday, July 10th. Stephens lifted their price objective on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $196.00.

Penske Automotive Group Trading Up 1.8%

Shares of PAG opened at $219.50 on Wednesday. Penske Automotive Group, Inc. has a 52-week low of $140.12 and a 52-week high of $220.13. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average is $183.13 and its two-hundred day moving average is $167.72. The stock has a market cap of $14.43 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The business had revenue of $7.86 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the prior year, the firm earned $3.66 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts forecast that Penske Automotive Group, Inc. will post 13.45 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $1.44 per share. The ex-dividend date is Friday, August 14th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. Penske Automotive Group’s payout ratio is 42.99%.

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.