UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $9.29 Million Stake in Penske Automotive Group, Inc. $PAG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 8.6% in the 2nd quarter, Holdings Channel reports. The firm owned 51,935 shares of the company’s stock after selling 4,902 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Penske Automotive Group were worth $9,294,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Penske Automotive Group in the 2nd quarter valued at $225,000. United Capital Financial Advisors LLC purchased a new stake in shares of Penske Automotive Group in the second quarter worth approximately $321,000. Equitable Holdings Inc. bought a new position in Penske Automotive Group during the 2nd quarter valued at $313,000. Public Employees Retirement System of Ohio purchased a new position in Penske Automotive Group during the second quarter worth about $901,000. Finally, Corient Private Wealth LP purchased a new position in shares of Penske Automotive Group in the 2nd quarter worth approximately $1,533,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of Penske Automotive Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Stephens boosted their price objective on shares of Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Benchmark downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Citigroup lowered shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $199.00 to $210.00 in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.50.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $219.41 on Monday. Penske Automotive Group, Inc. has a 52 week low of $140.12 and a 52 week high of $227.00. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $208.07 and a 200 day moving average of $178.34. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 16.16 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company had revenue of $8.51 billion during the quarter, compared to the consensus estimate of $7.98 billion. During the same period in the prior year, the firm earned $3.78 earnings per share. Penske Automotive Group’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that Penske Automotive Group, Inc. will post 13.66 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $1.44 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.76 dividend on an annualized basis and a yield of 2.6%. Penske Automotive Group’s dividend payout ratio is 42.42%.

Penske Automotive Group 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.