Northwestern Mutual Investment Management Company LLC lowered its stake in Penske Automotive Group Inc. (NYSE:PAG) by 26.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 466,907 shares of the company’s stock after selling 171,576 shares during the period. Northwestern Mutual Investment Management Company LLC owned 0.55% of Penske Automotive Group worth $14,689,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PAG. Fiduciary Management Inc. WI bought a new stake in shares of Penske Automotive Group during the second quarter valued at approximately $31,193,000. Burgundy Asset Management Ltd. increased its stake in shares of Penske Automotive Group by 12.1% in the second quarter. Burgundy Asset Management Ltd. now owns 2,588,167 shares of the company’s stock valued at $81,424,000 after buying an additional 280,120 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Penske Automotive Group by 53.3% in the second quarter. JPMorgan Chase & Co. now owns 671,209 shares of the company’s stock valued at $21,116,000 after buying an additional 233,409 shares during the period. HHR Asset Management LLC increased its stake in shares of Penske Automotive Group by 59.5% in the second quarter. HHR Asset Management LLC now owns 550,460 shares of the company’s stock valued at $17,317,000 after buying an additional 205,320 shares during the period. Finally, Connors Investor Services Inc. bought a new stake in shares of Penske Automotive Group during the second quarter valued at approximately $6,266,000. 41.00% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

Shares of Penske Automotive Group Inc. (NYSE:PAG) opened at 47.18 on Monday. The company has a 50-day moving average of $45.92 and a 200 day moving average of $40.84. The firm has a market cap of $4.02 billion, a P/E ratio of 12.40 and a beta of 1.41. Penske Automotive Group Inc. has a 52-week low of $29.29 and a 52-week high of $50.35.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Penske Automotive Group had a return on equity of 18.88% and a net margin of 1.64%. The firm earned $5.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts expect that Penske Automotive Group Inc. will post $3.91 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.16 annualized dividend and a yield of 2.46%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.28. Penske Automotive Group’s payout ratio is presently 30.45%.

Several analysts have recently commented on PAG shares. Zacks Investment Research downgraded shares of Penske Automotive Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 18th. Evercore ISI downgraded shares of Penske Automotive Group from a “hold” rating to a “sell” rating and set a $39.00 price target for the company. in a research report on Thursday, October 13th. Gabelli downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. Stifel Nicolaus downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. Finally, Seaport Global Securities assumed coverage on shares of Penske Automotive Group in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.00.

In related news, major shareholder Corp Penske acquired 478,000 shares of the stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $44.21 per share, for a total transaction of $21,132,380.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shane M. Spradlin sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $48.31, for a total value of $236,719.00. The disclosure for this sale can be found here. 37.20% of the stock is owned by company insiders.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles, diesel engines, gas engines, power systems and related parts, and services in Australia and New Zealand.

5 Day Chart for NYSE:PAG

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