Occidental Asset Management LLC Boosts Position in Penske Automotive Group, Inc. (NYSE:PAG)

Occidental Asset Management LLC lifted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 31.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,580 shares of the company’s stock after acquiring an additional 3,458 shares during the period. Occidental Asset Management LLC’s holdings in Penske Automotive Group were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Chip Partners Inc. raised its holdings in shares of Penske Automotive Group by 0.5% during the 1st quarter. Blue Chip Partners Inc. now owns 44,826 shares of the company’s stock worth $2,001,000 after acquiring an additional 225 shares during the period. Signaturefd LLC raised its holdings in shares of Penske Automotive Group by 90.5% during the 2nd quarter. Signaturefd LLC now owns 878 shares of the company’s stock worth $42,000 after acquiring an additional 417 shares during the period. CIBC World Markets Inc. raised its holdings in shares of Penske Automotive Group by 3.5% during the 1st quarter. CIBC World Markets Inc. now owns 16,481 shares of the company’s stock worth $736,000 after acquiring an additional 562 shares during the period. Edmp Inc. raised its holdings in shares of Penske Automotive Group by 1.4% during the 2nd quarter. Edmp Inc. now owns 47,388 shares of the company’s stock worth $2,241,000 after acquiring an additional 655 shares during the period. Finally, Advisor Group Inc. raised its holdings in shares of Penske Automotive Group by 8.4% during the 2nd quarter. Advisor Group Inc. now owns 8,748 shares of the company’s stock worth $413,000 after acquiring an additional 677 shares during the period. Institutional investors and hedge funds own 44.47% of the company’s stock.

Several research analysts have recently commented on PAG shares. Zacks Investment Research upgraded Penske Automotive Group from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a report on Tuesday, May 28th. Northcoast Research reiterated a “buy” rating on shares of Penske Automotive Group in a report on Thursday, August 1st. Morgan Stanley raised their price objective on Penske Automotive Group from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, ValuEngine downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.17.



Shares of NYSE:PAG traded down $1.19 during midday trading on Thursday, reaching $41.57. 28,237 shares of the company’s stock were exchanged, compared to its average volume of 394,575. The stock has a 50 day moving average price of $45.90. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $3.58 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. Penske Automotive Group, Inc. has a fifty-two week low of $38.49 and a fifty-two week high of $53.84.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.17). The business had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.90 billion. Penske Automotive Group had a return on equity of 16.56% and a net margin of 2.00%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 earnings per share. On average, analysts expect that Penske Automotive Group, Inc. will post 5.32 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, August 8th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.96%.

In related news, EVP Shane M. Spradlin sold 2,656 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.05, for a total transaction of $116,996.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Robert H. Kurnick, Jr. sold 8,579 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.05, for a total value of $395,062.95. Following the sale, the president now directly owns 98,509 shares of the company’s stock, valued at $4,536,339.45. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.

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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