State of New Jersey Common Pension Fund D continued to hold its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the second quarter, Holdings Channel reports. The firm owned 154,750 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Penske Automotive Group were worth $6,795,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PAG. FNY Managed Accounts LLC purchased a new stake in shares of Penske Automotive Group during the first quarter worth about $100,000. Meadow Creek Investment Management LLC purchased a new stake in shares of Penske Automotive Group during the first quarter worth about $113,000. Bank of Montreal Can boosted its stake in shares of Penske Automotive Group by 10.9% in the first quarter. Bank of Montreal Can now owns 2,787 shares of the company’s stock worth $131,000 after buying an additional 275 shares during the period. Glen Harbor Capital Management LLC purchased a new stake in shares of Penske Automotive Group during the first quarter worth about $137,000. Finally, PEAK6 Investments L.P. boosted its stake in shares of Penske Automotive Group by 5,767.4% in the first quarter. PEAK6 Investments L.P. now owns 5,046 shares of the company’s stock worth $236,000 after buying an additional 4,960 shares during the period. Institutional investors and hedge funds own 39.26% of the company’s stock.

Shares of Penske Automotive Group, Inc. (PAG) opened at 40.85 on Friday. The firm has a 50-day moving average of $43.37 and a 200 day moving average of $46.24. Penske Automotive Group, Inc. has a 52-week low of $40.37 and a 52-week high of $56.05. The firm has a market cap of $3.51 billion, a PE ratio of 9.74 and a beta of 1.48.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.28 annualized dividend and a dividend yield of 3.13%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s dividend payout ratio is currently 30.55%.

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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company reiterated a “market perform” rating and set a $46.00 target price (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. ValuEngine cut shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. BidaskClub upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Morgan Stanley dropped their target price on shares of Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Penske Automotive Group has a consensus rating of “Hold” and a consensus price target of $52.67.

In other news, President Robert H. Kurnick, Jr. sold 11,172 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $42.48, for a total value of $474,586.56. Following the completion of the transaction, the president now owns 89,405 shares of the company’s stock, valued at $3,797,924.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total value of $206,350.00. Following the completion of the transaction, the executive vice president now directly owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The disclosure for this sale can be found here. Insiders sold 18,072 shares of company stock valued at $763,853 in the last ninety days. 40.70% of the stock is currently owned by insiders.

About Penske Automotive Group

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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