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

Universal Beteiligungs und Servicegesellschaft mbH cut its position in Penske Automotive Group, Inc. (NYSE:PAG) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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).

Several other large investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. acquired a new stake in Penske Automotive Group during the 1st quarter worth $247,000. Cetera Investment Advisers lifted its stake in shares of Penske Automotive Group by 7.9% in the first quarter. Cetera Investment Advisers now owns 4,662 shares of the company’s stock worth $671,000 after buying an additional 343 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Penske Automotive Group by 13.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,674 shares of the company’s stock worth $817,000 after acquiring an additional 679 shares during the last quarter. LPL Financial LLC grew its stake in Penske Automotive Group by 7.4% during the 1st quarter. LPL Financial LLC now owns 10,351 shares of the company’s stock valued at $1,490,000 after acquiring an additional 713 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in Penske Automotive Group by 0.3% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 49,324 shares of the company’s stock valued at $7,102,000 after acquiring an additional 165 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAG. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Morgan Stanley boosted their price target on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Citigroup raised their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Benchmark boosted their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.86.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $158.30 on Tuesday. The company’s 50 day simple moving average is $166.43 and its 200-day simple moving average is $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 1 year low of $134.05 and a 1 year high of $189.51. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 11.14 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last posted its 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 company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $3.39 EPS. As a group, equities research analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a $1.38 dividend. The ex-dividend date is Friday, November 14th. This represents a $5.52 annualized dividend and a dividend yield of 3.5%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s dividend payout ratio (DPR) is presently 38.85%.

About Penske Automotive Group

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.