New York State Teachers Retirement System Sells 200 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

New York State Teachers Retirement System decreased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,709 shares of the company’s stock after selling 200 shares during the period. New York State Teachers Retirement System’s holdings in Penske Automotive Group were worth $718,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after buying an additional 81 shares in the last quarter. True Wealth Design LLC increased its holdings in Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group during the 3rd quarter valued at $94,000. Finally, Capital Performance Advisors LLP acquired a new stake in Penske Automotive Group during the 3rd quarter valued at $112,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

PAG opened at $163.54 on Monday. The business’s 50-day moving average price is $161.04 and its two-hundred day moving average price is $160.52. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 11.89 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

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

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 2.98%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Wall Street Analyst Weigh In

PAG has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Stephens reiterated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Hold” and a consensus price target of $172.50.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

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.