Measured Wealth Private Client Group LLC Sells 1,836 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Measured Wealth Private Client Group LLC lowered its position in Penske Automotive Group, Inc. (NYSE:PAG) by 32.9% in the 1st quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Penske Automotive Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company’s stock worth $326,800,000 after purchasing an additional 5,399 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Penske Automotive Group by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock valued at $121,259,000 after acquiring an additional 27,055 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Penske Automotive Group by 6.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 300,476 shares of the company’s stock valued at $48,229,000 after acquiring an additional 18,310 shares in the last quarter. Norges Bank bought a new stake in shares of Penske Automotive Group during the fourth quarter valued at approximately $30,844,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Penske Automotive Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,246 shares of the company’s stock valued at $22,832,000 after acquiring an additional 3,844 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 0.3 %

Shares of NYSE PAG traded down $0.49 during midday trading on Tuesday, reaching $146.63. 193,977 shares of the company’s stock traded hands, compared to its average volume of 196,305. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $151.82 and its 200-day simple moving average is $153.01. Penske Automotive Group, Inc. has a one year low of $137.95 and a one year high of $180.84. The company has a market cap 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 quarterly earnings data 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). Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the business posted $4.31 earnings per share. Penske Automotive Group’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that Penske Automotive Group, Inc. will post 13.39 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price target 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Penske Automotive Group presently has an average rating of “Hold” and an average target price of $163.20.

Penske Automotive Group 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.