Zurich Insurance Group Ltd FI continued to hold its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,100 shares of the company’s stock at the close of the 2nd quarter. Zurich Insurance Group Ltd FI’s holdings in Penske Automotive Group were worth $1,190,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. FNY Managed Accounts LLC bought a new stake in Penske Automotive Group during the first quarter worth about $100,000. Oppenheimer & Co. Inc. bought a new stake in Penske Automotive Group during the second quarter worth about $206,000. PEAK6 Investments L.P. grew its stake in Penske Automotive Group by 5,767.4% during the first quarter. PEAK6 Investments L.P. now owns 5,046 shares of the company’s stock worth $236,000 after buying an additional 4,960 shares during the last quarter. Pacer Advisors Inc. grew its stake in Penske Automotive Group by 22.1% during the first quarter. Pacer Advisors Inc. now owns 5,230 shares of the company’s stock worth $245,000 after buying an additional 945 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in Penske Automotive Group during the second quarter worth about $233,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/10/09/penske-automotive-group-inc-pag-holdings-held-by-zurich-insurance-group-ltd-fi.html.

In related news, EVP Claude H. Denker III sold 5,000 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the sale, the executive vice president now directly owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 40.70% of the company’s stock.

Shares of Penske Automotive Group, Inc. (PAG) opened at 46.32 on Monday. The firm’s 50-day moving average is $43.83 and its 200 day moving average is $43.95. Penske Automotive Group, Inc. has a 52 week low of $38.33 and a 52 week high of $56.05. The company has a market capitalization of $3.96 billion, a PE ratio of 11.62 and a beta of 1.44.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.44 billion. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. On average, analysts anticipate that Penske Automotive Group, Inc. will post $4.30 earnings per share for the current fiscal year.

Several brokerages have weighed in on PAG. Berenberg Bank began coverage on shares of Penske Automotive Group in a research note on Wednesday, October 4th. They set a “hold” rating and a $52.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of Penske Automotive Group in a research note on Wednesday, October 4th. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Northcoast Research began coverage on shares of Penske Automotive Group in a research note on Thursday, September 28th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.43.

Penske Automotive Group Profile

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)

Receive News & Stock Ratings for Penske Automotive Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penske Automotive Group Inc. and related stocks with our FREE daily email newsletter.