Victory Capital Management Inc. Sells 1,395 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Victory Capital Management Inc. decreased its holdings in Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,713 shares of the company’s stock after selling 1,395 shares during the period. Victory Capital Management Inc.’s holdings in Penske Automotive Group were worth $3,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Blue Chip Partners Inc. increased its position in shares of Penske Automotive Group by 0.3% during the fourth quarter. Blue Chip Partners Inc. now owns 41,769 shares of the company’s stock worth $4,478,000 after purchasing an additional 115 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Penske Automotive Group by 5.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,520 shares of the company’s stock worth $270,000 after purchasing an additional 125 shares in the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of Penske Automotive Group by 5.3% during the first quarter. Balasa Dinverno & Foltz LLC now owns 2,620 shares of the company’s stock worth $246,000 after purchasing an additional 132 shares in the last quarter. Brandywine Oak Private Wealth LLC increased its position in shares of Penske Automotive Group by 13.0% during the first quarter. Brandywine Oak Private Wealth LLC now owns 2,793 shares of the company’s stock worth $261,000 after purchasing an additional 321 shares in the last quarter. Finally, First Quadrant LLC CA acquired a new position in shares of Penske Automotive Group during the first quarter worth $33,000. Institutional investors own 50.13% of the company’s stock.

Insider Transactions at Penske Automotive Group

In other news, Director John Barr sold 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $116.06, for a total transaction of $580,300.00. Following the sale, the director now directly owns 3,683 shares of the company’s stock, valued at approximately $427,448.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 46.60% of the company’s stock.

Penske Automotive Group Price Performance

NYSE:PAG opened at $117.33 on Thursday. Penske Automotive Group, Inc. has a one year low of $83.48 and a one year high of $123.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.98. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 6.46 and a beta of 1.23. The firm’s fifty day moving average is $111.29 and its two-hundred day moving average is $105.56.

Penske Automotive Group (NYSE:PAG – Get Rating) last posted its earnings results on Wednesday, July 27th. The company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.46. Penske Automotive Group had a net margin of 5.28% and a return on equity of 34.68%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the company posted $4.47 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Research analysts expect that Penske Automotive Group, Inc. will post 17.94 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 10th will be paid a dividend of $0.53 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, August 9th. Penske Automotive Group’s dividend payout ratio is presently 11.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PAG shares. Morgan Stanley reduced their price target on Penske Automotive Group from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, July 14th. StockNews.com lowered shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.25.

Penske Automotive Group Profile

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Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.

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