Corient Private Wealth LLC Sells 215 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Corient Private Wealth LLC reduced its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,016 shares of the company’s stock after selling 215 shares during the quarter. Corient Private Wealth LLC’s holdings in Penske Automotive Group were worth $1,527,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PAG. Vestcor Inc increased its position in shares of Penske Automotive Group by 134.2% during the 4th quarter. Vestcor Inc now owns 9,338 shares of the company’s stock valued at $1,423,000 after purchasing an additional 5,351 shares during the last quarter. Swiss National Bank boosted its stake in Penske Automotive Group by 0.5% during the fourth quarter. Swiss National Bank now owns 39,400 shares of the company’s stock worth $6,006,000 after buying an additional 200 shares during the period. HighTower Advisors LLC increased its position in Penske Automotive Group by 43.5% during the fourth quarter. HighTower Advisors LLC now owns 6,198 shares of the company’s stock valued at $945,000 after acquiring an additional 1,880 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at $14,157,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Penske Automotive Group by 7.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,995 shares of the company’s stock worth $761,000 after acquiring an additional 330 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PAG. Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. increased their price target on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $172.50.

Penske Automotive Group Stock Performance

Penske Automotive Group stock opened at $153.82 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The company has a market capitalization of $10.27 billion, a PE ratio of 11.19 and a beta of 1.24. The company has a 50 day moving average price of $163.07 and a 200-day moving average price of $159.64. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. As a group, equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 3.17%. Penske Automotive Group’s dividend payout ratio is 35.49%.

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.