Opus Capital Group LLC purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the second quarter, Holdings Channel reports. The firm purchased 90,125 shares of the company’s stock, valued at approximately $3,957,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PAG. IFP Advisors Inc raised its position in Penske Automotive Group by 0.6% in the second quarter. IFP Advisors Inc now owns 18,404 shares of the company’s stock worth $808,000 after buying an additional 109 shares during the last quarter. Aristotle Capital Management LLC raised its position in Penske Automotive Group by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 39,215 shares of the company’s stock worth $1,836,000 after buying an additional 125 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Penske Automotive Group by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,873 shares of the company’s stock worth $1,773,000 after buying an additional 128 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in Penske Automotive Group by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 24,585 shares of the company’s stock worth $1,080,000 after buying an additional 135 shares during the last quarter. Finally, Amalgamated Bank raised its position in Penske Automotive Group by 3.4% in the first quarter. Amalgamated Bank now owns 5,518 shares of the company’s stock worth $258,000 after buying an additional 180 shares during the last quarter. 39.77% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group, Inc. (NYSE PAG) opened at 39.04 on Friday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 9.31 and a beta of 1.48. The stock has a 50 day moving average price of $43.13 and a 200 day moving average price of $45.84. Penske Automotive Group, Inc. has a 12 month low of $39.02 and a 12 month high of $56.05.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Penske Automotive Group, Inc. will post $4.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, August 8th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s payout ratio is currently 30.55%.

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A number of research firms have commented on PAG. BidaskClub lowered Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company reaffirmed a “market perform” rating and set a $46.00 price target (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. ValuEngine lowered Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Gabelli raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $52.67.

In other news, EVP Claude H. Denker III sold 5,000 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the completion of the sale, the executive vice president now owns 22,243 shares of the company’s stock, valued at $917,968.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shane M. Spradlin sold 1,900 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $43.64, for a total transaction of $82,916.00. The disclosure for this sale can be found here. Insiders have sold 18,072 shares of company stock valued at $763,853 in the last ninety days. Insiders own 40.70% of the company’s stock.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.

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

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