Deutsche Bank AG Takes $5.57 Million Position in Penske Automotive Group, Inc. $PAG

Deutsche Bank AG purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,140 shares of the company's stock, valued at approximately $5,573,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Navalign LLC purchased a new position in Penske Automotive Group during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Penske Automotive Group in the second quarter valued at $35,000. Rothschild Investment LLC boosted its position in shares of Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company's stock worth $38,000 after buying an additional 66 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Penske Automotive Group during the first quarter valued at $42,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Penske Automotive Group Stock Performance

PAG stock opened at $218.24 on Tuesday. The firm has a 50 day moving average of $200.89 and a two-hundred day moving average of $175.21. Penske Automotive Group, Inc. has a 12 month low of $140.12 and a 12 month high of $227.00. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 2.88 and a beta of 0.84. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, beating 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 business had revenue of $8.51 billion for the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter last year, the firm earned $3.78 EPS. Penske Automotive Group's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.61 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 2.6%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.42. The ex-dividend date is Friday, August 14th. Penske Automotive Group's dividend payout ratio is 42.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised shares of Penske Automotive Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 10th. Benchmark downgraded shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $170.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Finally, Barclays lifted their target price 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. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of "Moderate Buy" and an average price target of $208.50.

Insiders Place Their Bets

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 52.90% of the stock is currently owned by company insiders.

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.

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