3,101 Shares in Penske Automotive Group, Inc. $PAG Acquired by Basepoint Wealth LLC

Basepoint Wealth LLC purchased a new stake in Penske Automotive Group, Inc. (NYSE:PAG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,101 shares of the company’s stock, valued at approximately $464,000.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Penske Automotive Group by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after purchasing an additional 84,045 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Penske Automotive Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock valued at $9,918,000 after buying an additional 3,100 shares during the period. Acadian Asset Management LLC purchased a new stake in Penske Automotive Group in the 1st quarter worth about $42,000. EverSource Wealth Advisors LLC boosted its position in Penske Automotive Group by 506.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock worth $151,000 after acquiring an additional 735 shares during the period. Finally, Brown Advisory Inc. grew its stake in Penske Automotive Group by 47.0% during the 2nd quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after acquiring an additional 994 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PAG shares. Citigroup increased their price target on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of Penske Automotive Group in a research report on Friday, July 10th. Barclays boosted their price target on shares of Penske Automotive Group from $190.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $190.00 price objective on shares of Penske Automotive Group in a research report on Thursday, May 7th. Finally, Stephens upped their target price on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $194.62.

Penske Automotive Group Trading Down 0.0%

Shares of NYSE:PAG opened at $202.63 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $13.32 billion, a PE ratio of 15.12, a P/E/G ratio of 2.62 and a beta of 0.87. Penske Automotive Group, Inc. has a 1 year low of $140.12 and a 1 year high of $207.22. The firm has a fifty day moving average price of $176.80 and a 200 day moving average price of $165.25.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.66 earnings per share. Analysts expect that Penske Automotive Group, Inc. will post 13.44 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were issued a $1.42 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, May 26th. This represents a $5.68 annualized dividend and a yield of 2.8%. Penske Automotive Group’s dividend payout ratio is presently 42.39%.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the completion of the sale, the chief financial officer owned 17,596 shares of the company’s stock, valued at $3,022,992.80. This represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,488 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The disclosure for this sale is available in the SEC filing. 52.90% of the stock is currently owned by insiders.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.