Bruni J V & Co. Co. Sells 17,383 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Bruni J V & Co. Co. reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 196,404 shares of the company's stock after selling 17,383 shares during the quarter. Penske Automotive Group comprises about 3.6% of Bruni J V & Co. Co.'s portfolio, making the stock its 14th biggest position. Bruni J V & Co. Co. owned approximately 0.29% of Penske Automotive Group worth $31,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PAG. Burgundy Asset Management Ltd. raised its stake in shares of Penske Automotive Group by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company's stock worth $115,874,000 after purchasing an additional 13,968 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Penske Automotive Group by 31.1% in the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company's stock worth $62,280,000 after purchasing an additional 99,164 shares during the last quarter. Millennium Management LLC raised its stake in shares of Penske Automotive Group by 9.1% in the second quarter. Millennium Management LLC now owns 126,278 shares of the company's stock worth $18,818,000 after purchasing an additional 10,522 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Penske Automotive Group by 6.2% in the first quarter. Gabelli Funds LLC now owns 85,500 shares of the company's stock worth $13,850,000 after purchasing an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Penske Automotive Group by 12,674.5% in the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company's stock worth $9,606,000 after purchasing an additional 58,683 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Stock Performance

NYSE PAG traded down $1.27 on Tuesday, hitting $159.22. 215,073 shares of the stock traded hands, compared to its average volume of 184,814. The business's fifty day moving average is $156.70 and its two-hundred day moving average is $156.44. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 12.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same period last year, the company posted $3.90 earnings per share. Penske Automotive Group's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.63 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.99%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Friday, November 15th. Penske Automotive Group's dividend payout ratio is 36.48%.

Analysts Set New Price Targets

A number of analysts recently commented on PAG shares. Stephens started coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price target for the company. Morgan Stanley raised Penske Automotive Group from an "underweight" rating to an "overweight" rating and increased their price target for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Bank of America increased their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a research report on Tuesday, September 10th.

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.