Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,427,388 shares of the company’s stock after selling 116,616 shares during the quarter. Dimensional Fund Advisors LP owned 2.14% of Penske Automotive Group worth $217,597,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp boosted its position in shares of Penske Automotive Group by 39.1% during the 3rd quarter. Stifel Financial Corp now owns 2,986 shares of the company’s stock valued at $485,000 after purchasing an additional 839 shares in the last quarter. Virtu Financial LLC bought a new stake in Penske Automotive Group during the third quarter worth approximately $284,000. Sanctuary Advisors LLC acquired a new position in Penske Automotive Group in the third quarter worth approximately $415,000. Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group in the third quarter valued at $94,000. Finally, Tidal Investments LLC lifted its position in shares of Penske Automotive Group by 5.1% during the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PAG shares. Stephens restated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Finally, StockNews.com lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Penske Automotive Group currently has an average rating of “Hold” and an average price target of $166.25.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Barr sold 1,529 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Penske Automotive Group Stock Up 2.5 %

NYSE:PAG opened at $154.76 on Wednesday. The business’s fifty day moving average price is $155.86 and its 200 day moving average price is $158.08. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 11.26 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 1-year low of $134.05 and a 1-year high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. On average, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a dividend of $1.22 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group’s payout ratio is currently 35.49%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.