14,020 Shares in Penske Automotive Group, Inc. $PAG Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) in the 2nd quarter, Holdings Channel reports. The fund purchased 14,020 shares of the company’s stock, valued at approximately $2,509,000.

Several other institutional investors have also recently added to or reduced their stakes in PAG. Goldman Sachs Group Inc. increased its holdings in shares of Penske Automotive Group by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after buying an additional 84,045 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Penske Automotive Group by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock worth $9,918,000 after acquiring an additional 3,100 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Penske Automotive Group during the 1st quarter worth approximately $42,000. EverSource Wealth Advisors LLC increased its holdings in Penske Automotive Group by 506.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after purchasing an additional 735 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Penske Automotive Group by 47.0% during the 2nd quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after purchasing an additional 994 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Insider Transactions at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 1,500 shares of Penske Automotive Group stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the sale, the chief financial officer directly owned 17,596 shares in the company, valued at $3,022,992.80. This trade represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.90% of the stock is currently owned by corporate insiders.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $216.71 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. The firm has a market cap of $14.23 billion, a P/E ratio of 15.96, a P/E/G ratio of 2.88 and a beta of 0.84. The firm has a 50 day simple moving average of $200.13 and a 200 day simple moving average of $174.79. Penske Automotive Group, Inc. has a fifty-two week low of $140.12 and a fifty-two week high of $227.00.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.20. The firm had revenue of $8.51 billion for the quarter, compared to the consensus estimate of $7.98 billion. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%.The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 EPS. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.61 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 2.7%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, August 14th. Penske Automotive Group’s payout ratio is currently 42.42%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAG. Barclays lifted their price objective on Penske Automotive Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Citigroup cut Penske Automotive Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $199.00 to $210.00 in a report on Thursday, July 23rd. Stephens upped their price target on shares of Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, UBS Group set a $190.00 price target on shares of Penske Automotive Group in a research report on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.50.

Penske Automotive Group Company Profile

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.