International Assets Investment Management LLC Buys 58,683 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

International Assets Investment Management LLC raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 12,674.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,146 shares of the company's stock after purchasing an additional 58,683 shares during the quarter. International Assets Investment Management LLC owned approximately 0.09% of Penske Automotive Group worth $9,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position 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 valued at $62,280,000 after purchasing an additional 99,164 shares during the period. Manning & Napier Advisors LLC bought a new stake in Penske Automotive Group during the 2nd quarter valued at $3,742,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Penske Automotive Group by 720.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company's stock worth $3,546,000 after acquiring an additional 20,896 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Penske Automotive Group by 133.9% in the first quarter. Edgestream Partners L.P. now owns 30,048 shares of the company's stock worth $4,867,000 after acquiring an additional 17,204 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Penske Automotive Group by 88.8% in the second quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company's stock worth $4,800,000 after acquiring an additional 15,151 shares during the period. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Down 1.2 %

Penske Automotive Group stock traded down $1.86 during mid-day trading on Thursday, hitting $150.57. The company's stock had a trading volume of 171,201 shares, compared to its average volume of 187,555. The business has a 50 day moving average price of $158.50 and a 200-day moving average price of $155.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22. Penske Automotive Group, Inc. has a 12 month low of $140.70 and a 12 month high of $179.72. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 11.54 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results 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 net margin of 3.05% and a return on equity of 19.82%. The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period last year, the firm posted $3.90 EPS. The company's revenue was up 1.9% on a year-over-year basis. As a group, analysts forecast that Penske Automotive Group, Inc. will post 13.72 EPS for the current 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 issued a $1.19 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.16%. Penske Automotive Group's dividend payout ratio (DPR) is currently 36.48%.

Wall Street Analysts Forecast Growth

PAG has been the topic of several analyst reports. Stephens began 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 on the stock. Bank of America upped their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Morgan Stanley upgraded shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and increased their target price for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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.