BNP Paribas Financial Markets Sells 41,797 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

BNP Paribas Financial Markets cut its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 65.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,153 shares of the company's stock after selling 41,797 shares during the quarter. BNP Paribas Financial Markets' holdings in Penske Automotive Group were worth $3,598,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company's stock worth $56,000 after buying an additional 91 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Penske Automotive Group in the second quarter worth approximately $69,000. Capital Performance Advisors LLP purchased a new stake in Penske Automotive Group during the third quarter valued at $112,000. Blue Trust Inc. raised its position in Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company's stock worth $123,000 after acquiring an additional 113 shares during the period. Finally, Brighton Jones LLC purchased a new position in Penske Automotive Group during the third quarter valued at $209,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Down 1.0 %

PAG traded down $1.70 on Thursday, hitting $163.74. The company had a trading volume of 96,554 shares, compared to its average volume of 182,907. The business's fifty day simple moving average is $158.67 and its 200 day simple moving average is $157.14. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $179.72. The company has a market cap of $10.93 billion, a PE ratio of 12.55 and a beta of 1.18.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The company had revenue of $7.59 billion during the quarter, compared to analysts' expectations of $7.67 billion. During the same quarter last year, the firm posted $3.90 EPS. Penske Automotive Group's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that Penske Automotive Group, Inc. will post 13.5 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, November 15th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's payout ratio is 36.48%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley raised Penske Automotive Group from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a report on Tuesday, September 10th. Finally, Stephens initiated coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 target price on the stock.

Penske Automotive Group 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.