Measured Wealth Private Client Group LLC Trims Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Measured Wealth Private Client Group LLC trimmed its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,739 shares of the company’s stock after selling 1,836 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Penske Automotive Group were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Apollon Wealth Management LLC grew its position in Penske Automotive Group by 4.0% during the fourth quarter. Apollon Wealth Management LLC now owns 1,785 shares of the company’s stock worth $287,000 after buying an additional 68 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Penske Automotive Group by 1.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock worth $672,000 after buying an additional 73 shares in the last quarter. Alaska Permanent Fund Corp grew its position in Penske Automotive Group by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock worth $2,516,000 after buying an additional 75 shares in the last quarter. SkyOak Wealth LLC lifted its stake in Penske Automotive Group by 3.2% during the fourth quarter. SkyOak Wealth LLC now owns 2,550 shares of the company’s stock worth $409,000 after purchasing an additional 80 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in Penske Automotive Group by 5.5% during the fourth quarter. Quent Capital LLC now owns 1,830 shares of the company’s stock worth $294,000 after purchasing an additional 96 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Price Performance

PAG stock traded down $0.49 during mid-day trading on Tuesday, hitting $146.63. 193,977 shares of the stock were exchanged, compared to its average volume of 196,305. Penske Automotive Group, Inc. has a 12 month low of $137.95 and a 12 month high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23. The business has a fifty day moving average price of $151.82 and a 200 day moving average price of $153.01. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 10.20 and a beta of 1.18.

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

Penske Automotive Group Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Bank of America lifted their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two equities research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.