Bank of New York Mellon Corp increased its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 436,418 shares of the company’s stock after purchasing an additional 1,697 shares during the quarter. Bank of New York Mellon Corp’s holdings in Penske Automotive Group were worth $20,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in Penske Automotive Group by 4.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,913 shares of the company’s stock worth $1,542,000 after purchasing an additional 1,453 shares during the period. Engineers Gate Manager LP bought a new stake in Penske Automotive Group in the 2nd quarter worth approximately $384,000. Virginia Retirement Systems ET AL bought a new stake in Penske Automotive Group in the 2nd quarter worth approximately $1,527,000. Victory Capital Management Inc. grew its position in Penske Automotive Group by 18.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,191,783 shares of the company’s stock worth $102,685,000 after purchasing an additional 341,693 shares during the period. Finally, First Trust Advisors LP grew its position in Penske Automotive Group by 20.1% in the 2nd quarter. First Trust Advisors LP now owns 243,530 shares of the company’s stock worth $11,409,000 after purchasing an additional 40,759 shares during the period. 43.38% of the stock is currently owned by institutional investors.

Shares of PAG stock opened at $53.34 on Friday. Penske Automotive Group, Inc. has a 1 year low of $41.74 and a 1 year high of $54.83. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.82. The firm has a market cap of $4.43 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.47.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Penske Automotive Group had a net margin of 2.95% and a return on equity of 17.68%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. sell-side analysts forecast that Penske Automotive Group, Inc. will post 5.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Friday, August 10th were given a dividend of $0.36 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.70%. Penske Automotive Group’s payout ratio is presently 33.41%.

A number of equities research analysts have recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Penske Automotive Group in a research report on Friday, August 24th. They set a “buy” rating and a $60.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Penske Automotive Group from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Guggenheim set a $58.00 price objective on shares of Penske Automotive Group and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, June 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Penske Automotive Group has a consensus rating of “Buy” and a consensus target price of $59.13.

Penske Automotive Group Profile

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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