Applied Capital LLC FL Has $2.93 Million Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Applied Capital LLC FL reduced its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,251 shares of the company’s stock after selling 197 shares during the period. Penske Automotive Group makes up approximately 2.7% of Applied Capital LLC FL’s investment portfolio, making the stock its 6th biggest position. Applied Capital LLC FL’s holdings in Penske Automotive Group were worth $2,929,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC bought a new stake in Penske Automotive Group during the fourth quarter worth $260,702,000. BlackRock Inc. lifted its stake in Penske Automotive Group by 4.6% during the third quarter. BlackRock Inc. now owns 1,404,836 shares of the company’s stock worth $138,279,000 after purchasing an additional 61,972 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Penske Automotive Group by 24.7% during the second quarter. Goldman Sachs Group Inc. now owns 827,445 shares of the company’s stock worth $86,625,000 after purchasing an additional 164,060 shares during the last quarter. Bank of America Corp DE lifted its stake in Penske Automotive Group by 0.6% during the first quarter. Bank of America Corp DE now owns 665,868 shares of the company’s stock worth $94,427,000 after purchasing an additional 3,745 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Penske Automotive Group by 3,459.1% during the first quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock worth $1,783,000 after purchasing an additional 601,536 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Trading Down 2.8 %

NYSE PAG traded down $4.28 on Wednesday, reaching $150.14. The company had a trading volume of 280,154 shares, compared to its average volume of 191,273. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 9.98 and a beta of 1.19. Penske Automotive Group, Inc. has a fifty-two week low of $133.72 and a fifty-two week high of $180.84. The business has a 50 day moving average of $153.23 and a two-hundred day moving average of $153.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.21 earnings per share. Analysts forecast that Penske Automotive Group, Inc. will post 13.83 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.32%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.79. The ex-dividend date was Wednesday, February 14th. Penske Automotive Group’s dividend payout ratio is presently 22.48%.

Insider Activity at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the sale, the director now owns 716 shares of the company’s stock, valued at $110,299.80. The disclosure for this sale can be found here. 52.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America upped their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.