UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,720 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,346 shares of the company's stock after selling 4,720 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.09% of Penske Automotive Group worth $9,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Penske Automotive Group by 4.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,665 shares of the company's stock worth $758,000 after acquiring an additional 196 shares during the period. Cynosure Group LLC acquired a new stake in Penske Automotive Group during the 3rd quarter worth about $371,000. Transamerica Financial Advisors Inc. boosted its position in Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock worth $74,000 after acquiring an additional 453 shares during the period. Advantage Alpha Capital Partners LP acquired a new stake in Penske Automotive Group during the 3rd quarter worth about $1,035,000. Finally, The Manufacturers Life Insurance Company boosted its position in Penske Automotive Group by 62.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company's stock worth $4,743,000 after acquiring an additional 11,267 shares during the period. Hedge funds and other institutional investors own 77.08% of the company's stock.

Penske Automotive Group Stock Performance

Shares of PAG stock traded up $0.19 during trading on Monday, reaching $164.07. The company had a trading volume of 106,512 shares, compared to its average volume of 182,184. The firm's 50 day simple moving average is $158.72 and its two-hundred day simple moving average is $157.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $179.72. The company has a market capitalization of $10.95 billion, a PE ratio of 12.57 and a beta of 1.18.

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 net margin of 2.91% and a return on equity of 18.38%. The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the previous year, the business posted $3.90 earnings per share. The firm's revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.90%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group's dividend payout ratio (DPR) is presently 36.48%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PAG shares. Morgan Stanley upgraded Penske Automotive Group from an "underweight" rating to an "overweight" rating and lifted their price target for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. Stephens started coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a report on Tuesday, September 10th.

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.