Bruni J V & Co. Co. Reduces Stock Holdings in Penske Automotive Group, Inc. $PAG

Bruni J V & Co. Co. reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 179,287 shares of the company’s stock after selling 4,014 shares during the quarter. Penske Automotive Group accounts for approximately 3.1% of Bruni J V & Co. Co.’s holdings, making the stock its 16th biggest position. Bruni J V & Co. Co. owned about 0.27% of Penske Automotive Group worth $31,180,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PAG. Citigroup Inc. grew its position in Penske Automotive Group by 124.8% during the third quarter. Citigroup Inc. now owns 77,248 shares of the company’s stock valued at $13,434,000 after buying an additional 42,878 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Penske Automotive Group by 13.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 3,137 shares of the company’s stock worth $546,000 after acquiring an additional 376 shares during the last quarter. Syon Capital LLC grew its position in shares of Penske Automotive Group by 25.9% during the 3rd quarter. Syon Capital LLC now owns 1,788 shares of the company’s stock valued at $311,000 after acquiring an additional 368 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Penske Automotive Group in the 3rd quarter worth $287,000. Finally, Rothschild Investment LLC raised its holdings in Penske Automotive Group by 935.3% in the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after purchasing an additional 159 shares during the period. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.9%

Penske Automotive Group stock opened at $167.23 on Friday. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $189.51. The firm’s 50 day moving average price is $164.29 and its 200-day moving average price is $168.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22. The stock has a market cap of $11.01 billion, a P/E ratio of 12.39, a PEG ratio of 1.73 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.19 by ($0.28). The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.54 earnings per share. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.3%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Wednesday, February 25th. Penske Automotive Group’s payout ratio is presently 40.89%.

Analyst Upgrades and Downgrades

PAG has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Barclays boosted their price objective on Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Bank of America assumed coverage on shares of Penske Automotive Group in a research report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average price target of $184.43.

Insider Activity at Penske Automotive Group

In related news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the completion of the transaction, the chief financial officer directly owned 16,822 shares of the company’s stock, valued at approximately $2,694,379.74. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 51.70% of the company’s stock.

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.