UBS Group AG boosted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,352 shares of the company’s stock after buying an additional 1,055 shares during the period. UBS Group AG’s holdings in Penske Automotive Group were worth $1,749,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PAG. Vanguard Group Inc. raised its position in Penske Automotive Group by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,731,945 shares of the company’s stock valued at $127,882,000 after buying an additional 97,202 shares during the period. LSV Asset Management raised its position in Penske Automotive Group by 6.3% in the first quarter. LSV Asset Management now owns 2,416,007 shares of the company’s stock valued at $113,093,000 after buying an additional 142,956 shares during the period. Fiduciary Management Inc. WI raised its position in shares of Penske Automotive Group by 13.3% in the first quarter. Fiduciary Management Inc. WI now owns 1,442,655 shares of the company’s stock worth $67,531,000 after buying an additional 168,845 shares during the last quarter. Sentry Investments Corp. raised its position in shares of Penske Automotive Group by 0.6% in the first quarter. Sentry Investments Corp. now owns 1,179,732 shares of the company’s stock worth $55,223,000 after buying an additional 6,500 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Penske Automotive Group by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 335,182 shares of the company’s stock worth $15,689,000 after buying an additional 14,106 shares during the last quarter. 39.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of Penske Automotive Group, Inc. (NYSE:PAG) traded up 0.05% on Monday, reaching $42.63. The company’s stock had a trading volume of 514,636 shares. The stock has a 50-day moving average of $43.45 and a 200 day moving average of $46.72. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 10.16 and a beta of 1.48. Penske Automotive Group, Inc. has a 52 week low of $37.41 and a 52 week high of $56.05.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The company had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the business posted $1.11 EPS. Penske Automotive Group’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Penske Automotive Group, Inc. will post $4.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.28 annualized dividend and a dividend yield of 3.00%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.59%.

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A number of equities analysts have issued reports on the company. ValuEngine lowered Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Wells Fargo & Company reiterated a “market perform” rating and issued a $46.00 price target (down from $54.00) on shares of Penske Automotive Group in a report on Monday, July 17th. BidaskClub upgraded Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Morgan Stanley lowered their price target on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Penske Automotive Group presently has a consensus rating of “Hold” and a consensus price target of $52.67.

In related news, EVP Shane M. Spradlin sold 1,900 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $43.64, for a total value of $82,916.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Robert H. Kurnick, Jr. sold 11,172 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $42.48, for a total transaction of $474,586.56. Following the completion of the transaction, the president now directly owns 89,405 shares of the company’s stock, valued at $3,797,924.40. The disclosure for this sale can be found here. Company insiders own 40.70% of the company’s stock.

About Penske Automotive Group

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

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

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