10,935 Shares in Penske Automotive Group, Inc. $PAG Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. acquired a new stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) during the second quarter, HoldingsChannel.com reports. The firm acquired 10,935 shares of the company’s stock, valued at approximately $1,957,000.

Several other institutional investors have also modified their holdings of PAG. Parallel Advisors LLC boosted its holdings in shares of Penske Automotive Group by 15.1% in the 1st quarter. Parallel Advisors LLC now owns 441 shares of the company’s stock worth $66,000 after purchasing an additional 58 shares during the period. Bessemer Group Inc. boosted its stake in Penske Automotive Group by 8.5% during the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock worth $124,000 after buying an additional 65 shares during the period. California State Teachers Retirement System increased its position in Penske Automotive Group by 0.4% during the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after acquiring an additional 65 shares during the last quarter. Rothschild Investment LLC increased its position in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after acquiring an additional 66 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its stake in shares of Penske Automotive Group by 2.7% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,630 shares of the company’s stock valued at $416,000 after acquiring an additional 70 shares during the period. 77.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PAG shares. Weiss Ratings upgraded shares of Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Morgan Stanley reissued an “overweight” rating and issued a $190.00 price objective on shares of Penske Automotive Group in a research report on Thursday, May 7th. UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a research note on Friday, July 10th. Citigroup lowered Penske Automotive Group from a “buy” rating to a “neutral” rating and boosted their target price for the company from $199.00 to $210.00 in a research report on Thursday, July 23rd. Finally, Stephens increased their price target on Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.88.

Insider Activity at Penske Automotive Group

In other news, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total value 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 approximately $3,022,992.80. This represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 52.90% of the company’s stock.

Penske Automotive Group Price Performance

Shares of PAG stock opened at $218.27 on Tuesday. Penske Automotive Group, Inc. has a twelve month low of $140.12 and a twelve month high of $227.00. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $197.19 and a two-hundred day simple moving average of $173.11. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 2.92 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.42 by $0.20. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.78 earnings per share. On average, analysts predict that Penske Automotive Group, Inc. will post 13.61 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $1.44 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.76 dividend on an annualized basis and a yield of 2.6%. Penske Automotive Group’s payout ratio is 42.42%.

About Penske Automotive Group

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.