Inspire Investing LLC Sells 1,098 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Inspire Investing LLC reduced its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 15.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,940 shares of the company’s stock after selling 1,098 shares during the quarter. Inspire Investing LLC’s holdings in Penske Automotive Group were worth $885,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Penske Automotive Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company’s stock worth $326,800,000 after buying an additional 5,399 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of Penske Automotive Group by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company’s stock valued at $115,874,000 after acquiring an additional 13,968 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Penske Automotive Group by 6.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 300,476 shares of the company’s stock valued at $48,229,000 after acquiring an additional 18,310 shares during the last quarter. Norges Bank purchased a new stake in shares of Penske Automotive Group during the fourth quarter worth about $30,844,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Penske Automotive Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,246 shares of the company’s stock worth $22,832,000 after purchasing an additional 3,844 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 2.1 %

Shares of NYSE:PAG opened at $158.49 on Friday. The firm has a market capitalization of $10.58 billion, a P/E ratio of 11.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98. The stock has a 50 day moving average price of $161.59 and a 200-day moving average price of $155.50. Penske Automotive Group, Inc. has a 52-week low of $137.95 and a 52-week high of $179.72.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter in the prior year, the company earned $4.41 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.79 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $1.07 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, August 15th. Penske Automotive Group’s dividend payout ratio (DPR) is 29.76%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PAG. JPMorgan Chase & Co. increased their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Bank of America raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Stephens initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $162.40.

Insiders Place Their Bets

In other news, Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 51.70% of the company’s stock.

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.