UBS Group AG Sells 6,924 Shares of Penske Automotive Group, Inc. $PAG

Key Points

• UBS Group AG reduced its stake in Penske Automotive Group by 4.7% in the fourth quarter, selling 6,924 shares and leaving it with 139,244 shares valued at about $22.0 million.
• Analyst sentiment remains generally positive, with six Buy ratings and three Hold ratings; the consensus view is a “Moderate Buy” and the average price target is $184.86.
• Penske reported solid quarterly results and raised its dividend, posting EPS of $3.05 versus $2.91 expected and increasing its quarterly payout to $1.40 per share, implying a 3.2% annualized yield.

UBS Group AG cut its holdings in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,244 shares of the company's stock after selling 6,924 shares during the quarter. UBS Group AG owned 0.21% of Penske Automotive Group worth $22,041,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rothschild Investment LLC lifted its position in Penske Automotive Group by 935.3% during the third quarter. Rothschild Investment LLC now owns 176 shares of the company's stock valued at $31,000 after purchasing an additional 159 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Penske Automotive Group during the 3rd quarter valued at about $33,000. Acadian Asset Management LLC purchased a new stake in shares of Penske Automotive Group during the 1st quarter valued at about $42,000. Smartleaf Asset Management LLC lifted its holdings in shares of Penske Automotive Group by 237.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 310 shares of the company's stock valued at $54,000 after acquiring an additional 218 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in shares of Penske Automotive Group by 36.1% in the 3rd quarter. Clearstead Advisors LLC now owns 441 shares of the company's stock valued at $77,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PAG. Citigroup boosted their price objective on Penske Automotive Group from $193.00 to $199.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings downgraded Penske Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 16th. Barclays decreased their price target on Penske Automotive Group from $195.00 to $190.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Finally, Stephens lifted their price objective on shares of Penske Automotive Group from $155.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $184.86.

Penske Automotive Group Stock Down 0.4%

Shares of NYSE PAG opened at $173.14 on Tuesday. Penske Automotive Group, Inc. has a 1 year low of $140.12 and a 1 year high of $189.51. The firm has a 50-day simple moving average of $155.43 and a two-hundred day simple moving average of $160.33. The company has a market cap of $11.38 billion, a P/E ratio of 12.92, a PEG ratio of 2.25 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The firm had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the prior year, the business posted $3.66 earnings per share. The company's revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts anticipate that Penske Automotive Group, Inc. will post 13.44 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were paid a $1.40 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.38. This represents a $5.60 dividend on an annualized basis and a yield of 3.2%. Penske Automotive Group's payout ratio is 41.79%.

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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