Penske Automotive Group (NYSE:PAG) Price Target Lowered to $140.00 at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its target price decreased by JPMorgan Chase & Co. from $165.00 to $140.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other equities research analysts have also weighed in on the company. Stephens restated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. Benchmark began coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.25.

Penske Automotive Group Stock Performance

Shares of PAG opened at $144.52 on Thursday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 10.51 and a beta of 1.24. The company’s fifty day moving average is $162.53 and its 200-day moving average is $159.45. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12 month low of $140.21 and a 12 month high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Equities analysts expect that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $1.22 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a dividend yield of 3.38%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Insider Buying and Selling

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The stock was 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 currently owned by insiders.

Institutional Investors Weigh In On Penske Automotive Group

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Penske Automotive Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company’s stock worth $304,757,000 after acquiring an additional 12,912 shares during the period. Burgundy Asset Management Ltd. lifted its stake in Penske Automotive Group by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock worth $122,998,000 after purchasing an additional 13,106 shares during the period. AQR Capital Management LLC boosted its holdings in Penske Automotive Group by 3.5% during the fourth quarter. AQR Capital Management LLC now owns 606,709 shares of the company’s stock valued at $92,487,000 after purchasing an additional 20,506 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Penske Automotive Group by 24.4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after purchasing an additional 51,720 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock worth $39,560,000 after buying an additional 38,388 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.