Universal Beteiligungs und Servicegesellschaft mbH Buys New Stake in Penske Automotive Group, Inc. (NYSE:PAG)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH invested approximately $1.92 million in Penske Automotive Group, acquiring 13,306 shares during the first quarter.
• CEO Roger S. Penske sold 77,357 shares for about $12.48 million, resulting in a 35.58% decrease in his stake.
• Analysts are generally bullish on Penske Automotive Group, with a consensus rating of "Moderate Buy" and varying price targets ranging from $140 to $205.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,306 shares of the company's stock, valued at approximately $1,916,000.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in shares of Penske Automotive Group by 421.5% in the first quarter. UMB Bank n.a. now owns 339 shares of the company's stock valued at $49,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Penske Automotive Group by 51.9% in the first quarter. GAMMA Investing LLC now owns 398 shares of the company's stock valued at $57,000 after buying an additional 136 shares in the last quarter. Headlands Technologies LLC purchased a new position in Penske Automotive Group during the 4th quarter worth approximately $76,000. Fifth Third Bancorp grew its position in Penske Automotive Group by 31.0% during the 1st quarter. Fifth Third Bancorp now owns 528 shares of the company's stock worth $76,000 after purchasing an additional 125 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Penske Automotive Group by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company's stock worth $81,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 77.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PAG. Citigroup lifted their price objective on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Stephens reiterated an "equal weight" rating and set a $140.00 price objective on shares of Penske Automotive Group in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lowered their price objective on shares of Penske Automotive Group from $160.00 to $155.00 and set an "underweight" rating on the stock in a research report on Thursday, July 17th. Finally, Bank of America boosted their price target on shares of Penske Automotive Group from $190.00 to $205.00 and gave the company a "buy" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $175.00.

Penske Automotive Group Stock Up 0.5%

Shares of Penske Automotive Group stock traded up $0.85 on Friday, hitting $168.26. 267,673 shares of the company traded hands, compared to its average volume of 243,336. The company has a 50-day moving average price of $171.13 and a 200 day moving average price of $162.93. The company has a quick ratio of 0.23, a current ratio of 0.90 and a debt-to-equity ratio of 0.16. Penske Automotive Group, Inc. has a 12-month low of $134.05 and a 12-month high of $186.33. The company has a market cap of $11.13 billion, a PE ratio of 11.71 and a beta of 0.91.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.78 EPS for the quarter, beating the consensus estimate of $3.56 by $0.22. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The business had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.98 billion. During the same period in the previous year, the company posted $3.61 EPS. Penske Automotive Group's revenue was down .4% on a year-over-year basis. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be issued a $1.32 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, August 15th. Penske Automotive Group's dividend payout ratio is currently 35.49%.

Penske Automotive Group declared that its board has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Penske Automotive Group news, CEO Roger S. Penske sold 77,357 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $161.37, for a total transaction of $12,483,099.09. Following the completion of the transaction, the chief executive officer owned 140,042 shares of the company's stock, valued at $22,598,577.54. The trade was a 35.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shane M. Spradlin sold 3,158 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $167.10, for a total transaction of $527,701.80. Following the transaction, the executive vice president directly owned 36,152 shares of the company's stock, valued at approximately $6,040,999.20. This represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,044 shares of company stock worth $13,257,948. Corporate insiders own 51.70% of the company's stock.

Penske Automotive Group Company 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.