Penske Automotive Group, Inc. (PAG) Shares Sold by Sentry Investments Corp.
Sentry Investments Corp. cut its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 37.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 732,732 shares of the company’s stock after selling 447,000 shares during the period. Sentry Investments Corp. owned approximately 0.85% of Penske Automotive Group worth $32,174,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PAG. Vanguard Group Inc. raised its stake in Penske Automotive Group by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,731,945 shares of the company’s stock worth $127,882,000 after buying an additional 97,202 shares during the last quarter. LSV Asset Management increased its position in Penske Automotive Group by 6.3% in the first quarter. LSV Asset Management now owns 2,416,007 shares of the company’s stock worth $113,093,000 after buying an additional 142,956 shares during the period. Fiduciary Management Inc. WI increased its position in Penske Automotive Group by 13.3% in the first quarter. Fiduciary Management Inc. WI now owns 1,442,655 shares of the company’s stock worth $67,531,000 after buying an additional 168,845 shares during the period. Bank of America Corp DE increased its position in Penske Automotive Group by 8.4% in the first quarter. Bank of America Corp DE now owns 677,078 shares of the company’s stock worth $31,695,000 after buying an additional 52,663 shares during the period. Finally, Victory Capital Management Inc. increased its position in Penske Automotive Group by 54.6% in the second quarter. Victory Capital Management Inc. now owns 480,010 shares of the company’s stock worth $21,077,000 after buying an additional 169,550 shares during the period. Institutional investors own 39.85% of the company’s stock.
Penske Automotive Group, Inc. (NYSE:PAG) traded up 1.25% during trading on Thursday, hitting $41.98. 55,980 shares of the stock were exchanged. The firm has a market capitalization of $3.61 billion, a PE ratio of 10.01 and a beta of 1.48. The stock has a 50 day moving average price of $42.51 and a 200-day moving average price of $45.22. Penske Automotive Group, Inc. has a 12-month low of $38.33 and a 12-month high of $56.05.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the firm earned $1.11 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 10th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.09%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 8th. Penske Automotive Group’s dividend payout ratio (DPR) is 30.55%.
PAG has been the topic of a number of research reports. ValuEngine downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. BidaskClub raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $46.00 price target (down from $54.00) on shares of Penske Automotive Group in a research note on Monday, July 17th. Finally, Morgan Stanley dropped their price target on shares of Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Penske Automotive Group has a consensus rating of “Hold” and a consensus target price of $52.67.
In related news, EVP Claude H. Denker III sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the transaction, the executive vice president now directly owns 22,243 shares of the company’s stock, valued at $917,968.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.70% of the stock is currently owned by company insiders.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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