First Trust Advisors LP lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,253 shares of the company’s stock after selling 540 shares during the period. First Trust Advisors LP owned 0.15% of Penske Automotive Group worth $5,544,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Meadow Creek Investment Management LLC purchased a new stake in shares of Penske Automotive Group during the first quarter valued at $113,000. Bruni J V & Co. Co. increased its stake in shares of Penske Automotive Group by 6.8% in the first quarter. Bruni J V & Co. Co. now owns 169,604 shares of the company’s stock valued at $7,939,000 after buying an additional 10,816 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Penske Automotive Group by 3.3% in the first quarter. UBS Asset Management Americas Inc. now owns 35,792 shares of the company’s stock valued at $1,675,000 after buying an additional 1,127 shares during the period. Bank of New York Mellon Corp increased its stake 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 valued at $15,689,000 after buying an additional 14,106 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Penske Automotive Group by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,873 shares of the company’s stock valued at $1,773,000 after buying an additional 128 shares during the period. 39.85% of the stock is owned by institutional investors.

Shares of Penske Automotive Group, Inc. (PAG) opened at 41.46 on Thursday. The company has a market cap of $3.57 billion, a P/E ratio of 9.88 and a beta of 1.48. Penske Automotive Group, Inc. has a 52-week low of $38.33 and a 52-week high of $56.05. The firm has a 50-day moving average of $42.51 and a 200-day moving average of $45.22.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.27 EPS for the quarter, beating the 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 firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. Penske Automotive Group’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be given a $0.32 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 8th. This represents a $1.28 annualized dividend and a yield of 3.09%. Penske Automotive Group’s dividend payout ratio is 30.55%.

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Several brokerages recently weighed in on PAG. ValuEngine downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Co reissued a “market perform” rating and set a $46.00 price target (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. BidaskClub raised shares of Penske Automotive Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Morgan Stanley reduced their price target on shares of Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.67.

In related news, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total value of $206,350.00. Following the completion of the sale, the executive vice president now owns 22,243 shares in the company, valued at approximately $917,968.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 40.70% of the stock is owned by corporate insiders.

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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