Trust Co. of Vermont Sells 417 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Trust Co. of Vermont lessened its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 1.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,063 shares of the company’s stock after selling 417 shares during the quarter. Trust Co. of Vermont’s holdings in Penske Automotive Group were worth $4,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAG. PNC Financial Services Group Inc. boosted its position in Penske Automotive Group by 1.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock valued at $672,000 after acquiring an additional 73 shares during the last quarter. Applied Capital LLC FL lifted its position in Penske Automotive Group by 0.4% in the 3rd quarter. Applied Capital LLC FL now owns 21,176 shares of the company’s stock valued at $3,439,000 after acquiring an additional 77 shares in the last quarter. Arizona State Retirement System lifted its position in Penske Automotive Group by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock valued at $838,000 after acquiring an additional 84 shares in the last quarter. Fifth Third Bancorp lifted its position in Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after acquiring an additional 91 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in Penske Automotive Group by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 4,800 shares of the company’s stock valued at $778,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.3 %

NYSE:PAG opened at $158.43 on Friday. Penske Automotive Group, Inc. has a 52 week low of $137.95 and a 52 week high of $179.72. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 11.67 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 firm has a 50-day moving average price of $160.39 and a two-hundred day moving average price of $155.77.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same period in the previous year, the business earned $4.41 EPS. Penske Automotive Group’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.78 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s payout ratio is currently 31.52%.

Insider Activity at Penske Automotive Group

In related 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 value of $122,228.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 52.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PAG has been the topic of several recent research reports. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Bank of America increased their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th. Finally, Stephens began coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $175.40.

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.