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

Key Points

• UBS Asset Management reduced its Penske Automotive Group stake by 8.6% in the second quarter, selling 4,902 shares and retaining 51,935 shares valued at approximately $9.29 million. Institutional investors collectively own 77.08% of PAG.
• Penske Automotive reported quarterly EPS of $3.62, exceeding estimates of $3.42, while revenue rose 11.1% year over year to $8.51 billion. Shares opened at $219.41, near their 52-week high of $227.00.
• The company increased its quarterly dividend to $1.44 per share, equivalent to an annualized $5.76 payout and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $208.50.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 owned approximately 0.08% of Penske Automotive Group worth $9,294,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Navalign LLC bought a new position in Penske Automotive Group in the 4th quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of Penske Automotive Group in the 4th quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Penske Automotive Group in the second quarter worth about $35,000. Rothschild Investment LLC raised its holdings in shares of Penske Automotive Group by 37.5% in the 4th quarter. Rothschild Investment LLC now owns 242 shares of the company's stock worth $38,000 after buying an additional 66 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Penske Automotive Group during the first quarter worth $42,000. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $219.41 on Monday. The stock has a market capitalization of $14.41 billion, a PE ratio of 16.16 and a beta of 0.84. Penske Automotive Group, Inc. has a 52 week low of $140.12 and a 52 week high of $227.00. The stock has a 50 day moving average price of $208.07 and a 200 day moving average price of $178.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.21 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results 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. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same period in the prior year, the firm posted $3.78 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that Penske Automotive Group, Inc. will post 13.66 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued 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 annualized dividend and a dividend yield of 2.6%. Penske Automotive Group's payout ratio is currently 42.42%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PAG shares. UBS Group set a $190.00 target price 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 report on Wednesday, July 22nd. Weiss Ratings raised Penske Automotive Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 10th. Barclays lifted their price objective on shares of Penske Automotive Group from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Finally, Citigroup cut Penske Automotive Group from a "buy" rating to a "neutral" rating and boosted their target price for the company from $199.00 to $210.00 in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.

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