Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Monument Capital Management

Monument Capital Management reduced its position in Penske Automotive Group, Inc. (NYSE:PAG) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,462 shares of the company’s stock after selling 422 shares during the period. Monument Capital Management’s holdings in Penske Automotive Group were worth $2,505,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Penske Automotive Group during the 4th quarter worth $30,844,000. International Assets Investment Management LLC raised its position in shares of Penske Automotive Group by 15,960.7% in the 4th quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after purchasing an additional 66,556 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Penske Automotive Group by 206.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 73,531 shares of the company’s stock valued at $12,284,000 after buying an additional 49,544 shares during the last quarter. Northern Trust Corp grew its position in shares of Penske Automotive Group by 47.4% during the third quarter. Northern Trust Corp now owns 136,995 shares of the company’s stock worth $22,886,000 after buying an additional 44,044 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in shares of Penske Automotive Group by 3.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock worth $121,259,000 after buying an additional 27,055 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock traded down $0.03 during trading hours on Wednesday, reaching $146.60. The company’s stock had a trading volume of 46,027 shares, compared to its average volume of 195,044. Penske Automotive Group, Inc. has a one year low of $137.95 and a one year high of $180.84. The company’s 50 day simple moving average is $151.82 and its 200 day simple moving average is $153.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The stock has a market cap of $9.80 billion, a P/E ratio of 10.20 and a beta of 1.18.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.31 EPS. As a group, analysts expect that Penske Automotive Group, Inc. will post 13.39 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 20th were given a dividend of $0.96 per share. The ex-dividend date was Friday, May 17th. This represents a $3.84 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.87. Penske Automotive Group’s payout ratio is currently 26.70%.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Penske Automotive Group currently has an average rating of “Hold” and a consensus price target of $163.20.

About Penske Automotive Group

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.