Bruni J V & Co. Co. Acquires New Holdings in Penske Automotive Group, Inc. $PAG

Bruni J V & Co. Co. purchased a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 171,994 shares of the company's stock, valued at approximately $30,778,326. Penske Automotive Group comprises about 0.0% of Bruni J V & Co. Co.'s portfolio, making the stock its 15th largest position. Bruni J V & Co. Co. owned about 0.26% of Penske Automotive Group as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PAG. BlackRock Inc. bought a new position in shares of Penske Automotive Group during the second quarter valued at $417,516,000. Diamant Asset Management Inc. raised its stake in shares of Penske Automotive Group by 14,852.0% during the first quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company's stock valued at $132,237,000 after acquiring an additional 878,496 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Penske Automotive Group by 39,232.7% during the fourth quarter. Bank of Montreal Can now owns 863,352 shares of the company's stock valued at $136,660,000 after acquiring an additional 861,157 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Penske Automotive Group during the second quarter valued at $67,822,000. Finally, Norges Bank bought a new position in shares of Penske Automotive Group during the fourth quarter valued at $32,137,000. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Down 0.3%

PAG opened at $217.12 on Friday. Penske Automotive Group, Inc. has a twelve month low of $140.12 and a twelve month 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 company has a fifty day moving average of $204.28 and a 200-day moving average of $176.63. The stock has a market cap of $14.26 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 EPS for the quarter, topping analysts' consensus estimates of $3.42 by $0.20. The business had revenue of $8.51 billion during the quarter, compared to analysts' expectations of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $3.78 earnings per share. On average, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.61 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $1.44 dividend. The ex-dividend date is Friday, August 14th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.42. This represents a $5.76 dividend on an annualized basis and a yield of 2.7%. Penske Automotive Group's dividend payout ratio is 42.42%.

Analyst Upgrades and Downgrades

PAG has been the subject of several analyst reports. Barclays raised their price target on shares of Penske Automotive Group from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Bank of America raised their price target on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. UBS Group set a $190.00 price target on shares of Penske Automotive Group in a research note on Friday, July 10th. Benchmark downgraded shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Stephens increased their price objective 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. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.50.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were 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 approximately $3,022,992.80. This trade represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 52.90% of the company's stock.

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.