Quent Capital LLC Sells 169 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Quent Capital LLC trimmed its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,661 shares of the company’s stock after selling 169 shares during the period. Quent Capital LLC’s holdings in Penske Automotive Group were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its stake in shares of Penske Automotive Group by 4.0% in the fourth quarter. Apollon Wealth Management LLC now owns 1,785 shares of the company’s stock valued at $287,000 after buying an additional 68 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Penske Automotive Group by 1.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock valued at $672,000 after purchasing an additional 73 shares during the last quarter. Alaska Permanent Fund Corp raised its holdings in shares of Penske Automotive Group by 0.5% in the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock valued at $2,516,000 after purchasing an additional 75 shares during the last quarter. Measured Wealth Private Client Group LLC boosted its position in shares of Penske Automotive Group by 1.8% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 5,575 shares of the company’s stock valued at $895,000 after acquiring an additional 99 shares during the period. Finally, Gradient Investments LLC boosted its position in shares of Penske Automotive Group by 35.2% in the first quarter. Gradient Investments LLC now owns 380 shares of the company’s stock valued at $62,000 after acquiring an additional 99 shares during the period. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Price Performance

Penske Automotive Group stock traded up $0.70 during mid-day trading on Tuesday, hitting $161.83. 173,009 shares of the company traded hands, compared to its average volume of 197,899. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 11.25 and a beta of 1.18. Penske Automotive Group, Inc. has a one year low of $137.95 and a one year high of $179.72. The stock has a fifty day moving average price of $152.79 and a 200-day moving average price of $153.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.23 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, topping the consensus estimate of $3.39 by $0.22. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $4.41 earnings per share. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.37 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a dividend yield of 2.64%. Penske Automotive Group’s dividend payout ratio (DPR) is 29.76%.

Insiders Place Their Bets

In related news, Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 51.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PAG shares. Bank of America lifted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $135.00 to $140.00 and gave the company an “underweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $157.75.

Penske Automotive Group Company 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.