Principal Financial Group Inc. lowered its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 1.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,894 shares of the company’s stock after selling 111 shares during the period. Principal Financial Group Inc.’s holdings in Penske Automotive Group were worth $323,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Glen Harbor Capital Management LLC purchased a new position in shares of Penske Automotive Group during the first quarter worth $137,000. Clinton Group Inc. purchased a new position in shares of Penske Automotive Group during the first quarter worth $3,491,000. Guggenheim Capital LLC boosted its position in shares of Penske Automotive Group by 31.8% in the fourth quarter. Guggenheim Capital LLC now owns 15,615 shares of the company’s stock worth $809,000 after buying an additional 3,766 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Penske Automotive Group by 8.9% in the fourth quarter. Teachers Advisors LLC now owns 41,448 shares of the company’s stock worth $2,149,000 after buying an additional 3,387 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Penske Automotive Group by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 60,551 shares of the company’s stock worth $2,834,000 after buying an additional 608 shares in the last quarter. 39.26% of the stock is currently owned by institutional investors.
Penske Automotive Group, Inc. (PAG) traded down 0.24% during trading on Friday, reaching $40.85. The company had a trading volume of 443,051 shares. The firm’s 50 day moving average is $43.37 and its 200 day moving average is $46.32. The company has a market capitalization of $3.51 billion, a PE ratio of 9.74 and a beta of 1.48. Penske Automotive Group, Inc. has a one year low of $40.37 and a one year high of $56.05.
Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, July 27th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.28 annualized dividend and a yield of 3.13%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s dividend payout ratio is 30.55%.
A number of equities analysts recently weighed in on PAG shares. Morgan Stanley decreased their price objective on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. ValuEngine cut Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised Penske Automotive Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Gabelli raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Thursday, April 27th. Finally, Zacks Investment Research cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $52.67.
In related news, EVP Shane M. Spradlin sold 1,900 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $43.64, for a total value of $82,916.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Robert H. Kurnick, Jr. sold 11,172 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $42.48, for a total value of $474,586.56. Following the completion of the transaction, the president now directly owns 89,405 shares in the company, valued at approximately $3,797,924.40. The disclosure for this sale can be found here. In the last three months, insiders sold 18,072 shares of company stock worth $763,853. 40.70% of the stock is owned by insiders.
About Penske Automotive Group
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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