Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC increased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 12,674.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,146 shares of the company's stock after buying an additional 58,683 shares during the quarter. International Assets Investment Management LLC owned about 0.09% of Penske Automotive Group worth $9,606,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of 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 buying an additional 91 shares during the last quarter. Blue Trust Inc. boosted its holdings in Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company's stock valued at $123,000 after purchasing an additional 113 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Penske Automotive Group in the first quarter valued at $230,000. Schubert & Co purchased a new stake in Penske Automotive Group in the third quarter valued at $267,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Penske Automotive Group in the second quarter valued at $268,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock traded down $1.62 during trading hours on Thursday, reaching $150.81. The stock had a trading volume of 71,179 shares, compared to its average volume of 187,081. The stock's 50 day moving average is $158.50 and its 200 day moving average is $155.77. The firm has a market capitalization of $10.07 billion, a PE ratio of 11.09 and a beta of 1.16. Penske Automotive Group, Inc. has a twelve month low of $140.70 and a twelve month high of $179.72. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same quarter last year, the company posted $3.90 EPS. The company's revenue was up 1.9% on a year-over-year basis. Equities analysts expect that Penske Automotive Group, Inc. will post 13.72 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's dividend payout ratio is 31.52%.

Analyst Ratings Changes

PAG has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target 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. 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 report on Wednesday, September 25th. 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 report on Monday, July 22nd. Finally, Stephens initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 price objective for the company.

About Penske Automotive Group

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.