Penske Automotive Group, Inc. $PAG Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in Penske Automotive Group, Inc. (NYSE:PAG) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,712 shares of the company’s stock after selling 594 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Penske Automotive Group were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAG. Sound Income Strategies LLC purchased a new stake in Penske Automotive Group during the 2nd quarter valued at about $34,000. Acadian Asset Management LLC acquired a new stake in shares of Penske Automotive Group during the first quarter worth about $42,000. UMB Bank n.a. boosted its position in Penske Automotive Group by 18.6% in the second quarter. UMB Bank n.a. now owns 402 shares of the company’s stock valued at $69,000 after buying an additional 63 shares during the last quarter. Brooklyn Investment Group increased its holdings in Penske Automotive Group by 353.0% in the 1st quarter. Brooklyn Investment Group now owns 453 shares of the company’s stock worth $65,000 after buying an additional 353 shares during the period. Finally, Blue Trust Inc. increased its holdings in Penske Automotive Group by 12.1% in the 2nd quarter. Blue Trust Inc. now owns 785 shares of the company’s stock worth $135,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Down 1.5%

Shares of Penske Automotive Group stock opened at $158.30 on Tuesday. The firm has a 50-day simple moving average of $166.43 and a two-hundred day simple moving average of $171.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.21 and a current ratio of 0.97. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week high of $189.51. The company has a market cap of $10.43 billion, a P/E ratio of 11.14 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.25). The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. Penske Automotive Group’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.39 EPS. As a group, equities analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $5.52 dividend on an annualized basis and a yield of 3.5%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s dividend payout ratio is 38.85%.

Analyst Upgrades and Downgrades

Several analysts have commented on PAG shares. Morgan Stanley lifted their price objective on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Citigroup boosted their target price on shares of Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Barclays started coverage on Penske Automotive Group in a research note on Tuesday, November 11th. They set an “overweight” rating and a $195.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group presently has an average rating of “Moderate Buy” and a consensus price target of $185.86.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.