7,516 Shares in Penske Automotive Group, Inc. (NYSE:PAG) Purchased by Islay Capital Management LLC

Islay Capital Management LLC acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,516 shares of the company's stock, valued at approximately $1,221,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAG. Fifth Third Bancorp lifted its holdings in Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company's stock valued at $56,000 after purchasing an additional 91 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Penske Automotive Group during the second quarter worth $69,000. Capital Performance Advisors LLP bought a new position in shares of Penske Automotive Group during the third quarter worth $112,000. Blue Trust Inc. boosted its position in shares of Penske Automotive Group by 17.5% during 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 last quarter. Finally, Brighton Jones LLC bought a new position in shares of Penske Automotive Group during the third quarter worth $209,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Analysts Set New Price Targets

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

Penske Automotive Group Trading Up 0.1 %

Shares of PAG traded up $0.24 during midday trading on Monday, hitting $160.47. The stock had a trading volume of 152,807 shares, compared to its average volume of 184,551. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72. The firm has a market cap of $10.71 billion, a PE ratio of 12.30 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The stock's 50 day moving average is $156.44 and its 200 day moving average is $156.35.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $7.67 billion. During the same period in the prior year, the company posted $3.90 EPS. The company's revenue was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Penske Automotive Group, Inc. will post 13.63 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.97%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's dividend payout ratio is currently 36.48%.

Penske Automotive Group Company 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.