Penske Automotive Group, Inc. (PAG) Shares Sold by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lessened its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 3.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,439 shares of the company’s stock after selling 1,353 shares during the period. UBS Asset Management Americas Inc.’s holdings in Penske Automotive Group were worth $1,512,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FNY Managed Accounts LLC purchased a new stake in Penske Automotive Group during the first quarter worth about $100,000. Oppenheimer & Co. Inc. purchased a new stake in Penske Automotive Group during the second quarter worth about $206,000. Paragon Capital Management Ltd purchased a new stake in Penske Automotive Group during the second quarter worth about $233,000. Amalgamated Bank increased its holdings in Penske Automotive Group by 3.4% during the first quarter. Amalgamated Bank now owns 5,518 shares of the company’s stock worth $258,000 after buying an additional 180 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Penske Automotive Group by 11.9% during the second quarter. Pacer Advisors Inc. now owns 5,854 shares of the company’s stock worth $257,000 after buying an additional 624 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.
A number of analysts recently issued reports on the stock. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northcoast Research assumed coverage on shares of Penske Automotive Group in a report on Thursday, September 28th. They set a “buy” rating and a $56.00 price objective for the company. BidaskClub downgraded shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. KeyCorp restated a “hold” rating on shares of Penske Automotive Group in a report on Wednesday, October 4th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $46.00 price objective (down previously from $54.00) on shares of Penske Automotive Group in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Penske Automotive Group presently has an average rating of “Hold” and an average price target of $55.83.
In other news, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the completion of the sale, the executive vice president now owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 40.70% of the stock is owned by corporate insiders.
Penske Automotive Group, Inc. (PAG) opened at 45.62 on Thursday. The stock has a market cap of $3.92 billion, a P/E ratio of 10.87 and a beta of 1.45. The stock has a 50 day moving average of $45.12 and a 200 day moving average of $43.87. Penske Automotive Group, Inc. has a 1-year low of $38.33 and a 1-year high of $56.05.
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 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 firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Penske Automotive Group, Inc. will post $4.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.89%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.32. Penske Automotive Group’s dividend payout ratio is presently 30.55%.
Penske Automotive Group Company 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.
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