Penske Automotive Group, Inc. (NYSE: PAG) CEO Roger S. Penske sold 20,813 shares of the company in a transaction that took place on Thursday, June 3. The shares were sold at an average price of $ 84.10, for a total transaction of $ 1,750,373.30.
PAG traded at $ 2.03 on Friday, reaching $ 81.04. 479,108 shares of the company were traded, for an average volume of 277,128. The company has a rapid ratio of 0.24, a current ratio of 0.95 and a debt ratio of 0.43. The fifty-day moving average share price is $ 86.06. The company has a market cap of $ 6.55 billion, a PE ratio of 9.67, a PEG ratio of 1.11 and a beta of 1.63. Penske Automotive Group, Inc. has a 12-month low of $ 36.31 and a 12-month high of $ 93.45.
Penske Automotive Group (NYSE: PAG) last released its results on Tuesday, April 27. The company reported EPS of $ 2.26 for the quarter, beating the consensus estimate of $ 1.81 by $ 0.45. The company posted revenue of $ 5.77 billion for the quarter, compared to a consensus estimate of $ 5.42 billion. Penske Automotive Group had a net margin of 3.18% and a return on equity of 20.79%. The company’s revenue for the quarter increased 15.3% year-over-year. During the same period of the previous year, the company made a profit of $ 0.64 per share. Sell-side analysts predict that Penske Automotive Group, Inc. will post 8.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 2. Shareholders of record on Monday, May 24, received a dividend of $ 0.44 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $ 0.43. This represents a dividend of $ 1.76 on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Friday May 21. Penske Automotive Group’s dividend payout ratio is currently 26.51%.
Hedge funds and other institutional investors have recently bought and sold shares. BlackRock Inc. increased its position in Penske Automotive Group by 2.0% during the 1st quarter. BlackRock Inc. now owns 1,464,411 shares of the company valued at $ 117,508,000 after purchasing an additional 28,250 shares during the last quarter. Morgan Stanley increased its stake in Penske Automotive Group shares by 47.9% in the fourth quarter. Morgan Stanley now owns 726,570 shares of the company valued at $ 43,152,000 after purchasing an additional 235,248 shares during the period. AQR Capital Management LLC increased its equity stake in Penske Automotive Group by 7.1% during the first quarter. AQR Capital Management LLC now owns 565,619 shares of the company valued at $ 45,385,000 after acquiring an additional 37,695 shares in the last quarter. Norges Bank purchased a new stake in Penske Automotive Group in the fourth quarter for a value of $ 28,936,000. Finally, Bank of New York Mellon Corp increased its stake in Penske Automotive Group by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 418,262 shares of the company valued at $ 33,561,000 after acquiring an additional 8,665 shares in the last quarter. 35.81% of the capital is currently held by institutional investors.
A number of equity analysts have recently commented on PAG stocks. Morgan Stanley raised its price target for Penske Automotive Group shares from $ 80.00 to $ 92.00 and rated the stock “overweight” in a report released on Friday, May 7. Stephens raised its price target on Penske Automotive Group from $ 70.00 to $ 78.00 in a research report published Thursday, February 11. Three research analysts rated the stock with a conservation rating and five gave the stock a buy rating. Penske Automotive Group has a consensus rating of “Buy” and an average price target of $ 69.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc., a diversified transportation services company, operates commercial auto and truck dealerships. The company operates in four segments: Retail Automotive, Retail Commercial Truck, Other and Non-Automotive Investments. It operates dealerships under franchise agreements with various automobile manufacturers and distributors.
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