Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Penske Automotive Group, Inc. (NYSE:PAGGet Rating) by 52.1% during the 2nd quarter, Holdings Channel reports. The fund owned 9,786 shares of the company’s stock after selling 10,647 shares during the period. 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC raised its holdings in shares of Penske Automotive Group by 153.4% in the 2nd quarter. Lazard Asset Management LLC now owns 299 shares of the company’s stock worth $31,000 after purchasing an additional 181 shares during the period. Balasa Dinverno & Foltz LLC grew its stake in shares of Penske Automotive Group by 94.1% in the second quarter. Balasa Dinverno & Foltz LLC now owns 5,085 shares of the company’s stock valued at $532,000 after buying an additional 2,465 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Penske Automotive Group by 7.3% during the 2nd quarter. Eqis Capital Management Inc. now owns 4,573 shares of the company’s stock valued at $479,000 after purchasing an additional 312 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Penske Automotive Group by 30.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 32,002 shares of the company’s stock valued at $3,350,000 after purchasing an additional 7,481 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Penske Automotive Group during the 2nd quarter valued at approximately $553,000. 33.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAG has been the subject of a number of recent analyst reports. StockNews.com lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lowered 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. Finally, Bank of America lowered 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.

Penske Automotive Group Trading Up 0.5 %

Shares of NYSE PAG opened at $124.21 on Monday. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 1.01 and a beta of 1.25. Penske Automotive Group, Inc. has a 12-month low of $88.58 and a 12-month high of $131.55. The company has a current ratio of 0.98, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $107.15 and its 200 day simple moving average is $110.95.

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

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a dividend yield of 1.84%. Penske Automotive Group’s dividend payout ratio (DPR) is 12.47%.

Penske Automotive Group Profile

(Get Rating)

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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