Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAGGet Rating) by 52.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,786 shares of the company’s stock after selling 10,647 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Penske Automotive Group were worth $1,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAG. SG Americas Securities LLC grew its position in Penske Automotive Group by 105.0% in the 1st quarter. SG Americas Securities LLC now owns 26,180 shares of the company’s stock valued at $2,454,000 after acquiring an additional 13,411 shares in the last quarter. Versor Investments LP lifted its stake in Penske Automotive Group by 38.1% in the first quarter. Versor Investments LP now owns 4,065 shares of the company’s stock valued at $381,000 after buying an additional 1,121 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its stake in Penske Automotive Group by 100.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 10,400 shares of the company’s stock valued at $975,000 after buying an additional 5,200 shares during the last quarter. Blue Chip Partners Inc. lifted its stake in Penske Automotive Group by 0.3% in the first quarter. Blue Chip Partners Inc. now owns 41,889 shares of the company’s stock valued at $3,926,000 after buying an additional 120 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Penske Automotive Group by 1,284.4% in the first quarter. National Bank of Canada FI now owns 1,952 shares of the company’s stock valued at $197,000 after buying an additional 1,811 shares during the last quarter. 33.07% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Trading Up 0.5 %

Shares of PAG stock opened at $124.21 on Monday. The business’s fifty day moving average price is $107.15 and its 200 day moving average price is $110.95. Penske Automotive Group, Inc. has a 1-year low of $88.58 and a 1-year high of $131.55. The firm has a market capitalization of $8.86 billion, a PE ratio of 6.79, a P/E/G ratio of 1.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.98 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAGGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $4.61 earnings per share for the quarter, topping analysts’ consensus estimates of $4.38 by $0.23. Penske Automotive Group had a return on equity of 33.86% and a net margin of 5.14%. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.79 billion. During the same quarter in the prior year, the company posted $4.46 earnings per share. Penske Automotive Group’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 18.36 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be issued a $0.57 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.53. The ex-dividend date is Wednesday, November 9th. This represents a $2.28 annualized dividend and a yield of 1.84%. Penske Automotive Group’s dividend payout ratio is 12.47%.

Wall Street Analyst Weigh In

PAG has been the subject of a number of research reports. StockNews.com cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America reduced their price objective on Penske Automotive Group from $185.00 to $182.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Penske Automotive Group from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 6th.

About Penske Automotive Group

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Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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