UBS Group AG Lowers Holdings in Penske Automotive Group, Inc. $PAG

UBS Group AG reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,244 shares of the company’s stock after selling 6,924 shares during the quarter. UBS Group AG’s holdings in Penske Automotive Group were worth $22,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in shares of Penske Automotive Group by 935.3% in the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after buying an additional 159 shares during the period. Root Financial Partners LLC purchased a new position in shares of Penske Automotive Group during the third quarter valued at $33,000. Acadian Asset Management LLC purchased a new stake in Penske Automotive Group in the first quarter worth about $42,000. Smartleaf Asset Management LLC lifted its stake in Penske Automotive Group by 237.0% in the third quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock worth $54,000 after acquiring an additional 218 shares during the period. Finally, Clearstead Advisors LLC grew its holdings in Penske Automotive Group by 36.1% during the 3rd quarter. Clearstead Advisors LLC now owns 441 shares of the company’s stock worth $77,000 after acquiring an additional 117 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Stock Performance

PAG stock opened at $173.14 on Tuesday. Penske Automotive Group, Inc. has a one year low of $140.12 and a one year high of $189.51. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 2.25 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. The firm has a 50-day simple moving average of $155.43 and a two-hundred day simple moving average of $160.33.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The firm had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $7.71 billion. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.66 EPS. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.44 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were issued a $1.40 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio is presently 41.79%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PAG. Morgan Stanley reissued an “overweight” rating and set a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday. Barclays lowered their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Citigroup increased their price objective on shares of Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Stephens upped their target price on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.86.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.