Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,784 shares of the company's stock after purchasing an additional 8,438 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Penske Automotive Group worth $10,028,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Highland Capital Management LLC purchased a new position in shares of Penske Automotive Group in the fourth quarter worth about $240,000. Blue Trust Inc. raised its holdings in Penske Automotive Group by 28.3% in the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company's stock valued at $198,000 after acquiring an additional 269 shares during the last quarter. Bank of Montreal Can lifted its stake in Penske Automotive Group by 6.4% in the 4th quarter. Bank of Montreal Can now owns 2,651 shares of the company's stock worth $404,000 after purchasing an additional 160 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Penske Automotive Group by 4.7% during the 4th quarter. Rhumbline Advisers now owns 54,063 shares of the company's stock worth $8,241,000 after purchasing an additional 2,446 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Penske Automotive Group by 33.5% during the 4th quarter. KBC Group NV now owns 749 shares of the company's stock worth $114,000 after purchasing an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Citigroup boosted their price target on shares of Penske Automotive Group from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Stephens reissued an "equal weight" rating and issued a $140.00 price objective on shares of Penske Automotive Group in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Penske Automotive Group Trading Up 1.8%

Shares of NYSE PAG traded up $2.95 during mid-day trading on Tuesday, reaching $162.69. 323,734 shares of the company's stock were exchanged, compared to its average volume of 197,293. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 11.83 and a beta of 0.90. The company's 50-day moving average is $155.17 and its 200-day moving average is $159.11. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $180.12.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $0.12. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.60 billion for the quarter, compared to analysts' expectations of $7.68 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The firm's revenue was up 2.1% compared to the same quarter last year. Analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th will be issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 3.10%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Tuesday, May 27th. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

Penske Automotive Group declared that its board has approved a stock buyback program on Wednesday, May 14th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 51.70% of the stock is currently owned by company insiders.

Penske Automotive Group Profile

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.