Moran Wealth Management LLC Sells 3,969 Shares of Penske Automotive Group, Inc. $PAG

Moran Wealth Management LLC trimmed its position in Penske Automotive Group, Inc. (NYSE:PAG) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,929 shares of the company’s stock after selling 3,969 shares during the period. Penske Automotive Group accounts for 0.7% of Moran Wealth Management LLC’s portfolio, making the stock its 28th biggest position. Moran Wealth Management LLC’s holdings in Penske Automotive Group were worth $23,574,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PAG. Rothschild Investment LLC lifted its position in Penske Automotive Group by 935.3% during the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock valued at $31,000 after buying an additional 159 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Penske Automotive Group in the 3rd quarter worth about $33,000. Acadian Asset Management LLC purchased a new stake in shares of Penske Automotive Group in the 1st quarter worth about $42,000. Smartleaf Asset Management LLC increased its stake in shares of Penske Automotive Group by 237.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock worth $54,000 after acquiring an additional 218 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of Penske Automotive Group by 36.1% in the 3rd quarter. Clearstead Advisors LLC now owns 441 shares of the company’s stock worth $77,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PAG. Barclays dropped their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Penske Automotive Group from $170.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup dropped their price target on Penske Automotive Group from $200.00 to $193.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.43.

Penske Automotive Group Price Performance

PAG opened at $161.44 on Friday. The firm has a market cap of $10.61 billion, a PE ratio of 11.96, a P/E/G ratio of 2.04 and a beta of 0.87. The stock has a 50-day moving average price of $155.57 and a 200-day moving average price of $160.94. Penske Automotive Group, Inc. has a 1 year low of $140.12 and a 1 year high of $189.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.54 earnings per share. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, February 25th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.5%. Penske Automotive Group’s dividend payout ratio is currently 41.48%.

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.