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Penske Automotive Group, Inc. - $PAG STOCK NEWS

Welcome to our dedicated page for Penske Automotive Group news (Ticker: $PAG), a resource for investors and traders seeking the latest updates and insights on Penske Automotive Group stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Penske Automotive Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Penske Automotive Group's position in the market.

News
PENSKE AUTOMOTIVE GROUP TO EXPAND PRESENCE IN THE UNITED KINGDOM
Rhea-AI Summary
Penske Automotive Group, a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, has signed an agreement to acquire Rybrook Group Limited, consisting of 15 premium dealerships in the United Kingdom, including four BMW dealerships, four MINI dealerships, four Volvo dealerships, two Land Rover dealerships, and one Porsche dealership. Additionally, three of the BMW locations also retail BMW Motorrad motorcycles. The dealerships to be acquired represent estimated annualized revenues of $1 billion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.76%
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none
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News
PENSKE AUTOMOTIVE GROUP PUBLISHES 2023 CORPORATE RESPONSIBILITY REPORT
Rhea-AI Summary
Penske Automotive Group, Inc. (NYSE: PAG) has published its 2023 Corporate Responsibility Report, showcasing its progress in Environmental, Social and Governance ('ESG') initiatives and commitment to diversity and sustainability. CEO Roger Penske expressed pride in the company's achievements and its dedication to a more equitable and sustainable future.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.67%
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none
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News
PENSKE AUTOMOTIVE GROUP DEALERSHIPS NAMED BEST TO WORK FOR
Rhea-AI Summary
Penske Automotive Group has announced that 44 of its dealerships have been recognized as part of the Top 100 Best Dealerships to Work For 2023 by Automotive News. Audi Bedford was ranked No. 1 as the Best Dealership to Work For. PAG dealerships were also recognized for their commitment to promoting diverse and inclusive workplaces.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.06%
Tags
none
News
PENSKE AUTOMOTIVE GROUP REPORTS QUARTERLY RESULTS
Rhea-AI Summary
Penske Automotive Group reports an 8% increase in quarterly revenue to $7.4 billion, with net income decreasing 23% to $263.4 million. Retail automotive same-store revenue increased 9%, while retail commercial truck same-store gross profit increased 6%. The company also increased its quarterly dividend by $0.07 per share, or 9.7%, to $0.79 per share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.84%
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none
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News
PENSKE AUTOMOTIVE GROUP INCREASES DIVIDEND BY 9.7%
Rhea-AI Summary
Penske Automotive Group increases dividend
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.43%
Tags
dividends
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News
PENSKE AUTOMOTIVE GROUP SCHEDULES THIRD QUARTER 2023 FINANCIAL RESULTS CONFERENCE CALL
Rhea-AI Summary
Penske Automotive Group to release Q3 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.86%
Tags
earnings
News
PENSKE AUTOMOTIVE DEALERSHIPS IN ROUND ROCK, TEXAS SUSTAIN SIGNIFICANT HAIL DAMAGE
Rhea-AI Summary
Penske Automotive Group reports significant hail damage to over 750 vehicles in Texas, representing over $27 million in inventory value. Most of the vehicles are not repairable and considered total losses. Financial impact being assessed. Insurance coverage expected to partially cover the damage. Potential loss of vehicle sales and insurance deductibles to be incurred by the company.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.58%
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none
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News
PENSKE AUTOMOTIVE GROUP ACQUIRES BMW AND PORSCHE DEALERSHIPS IN WILMINGTON, NORTH CAROLINA
Rhea-AI Summary
Penske Automotive Group, Inc. (NYSE: PAG) adds $140 million in expected annualized revenue through the acquisition of BMW of Wilmington and Porsche Wilmington. Both dealerships have earned top honors from their respective brands. The acquisitions aim to expand the company's premium retail automotive brand mix in the southeastern United States.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.84%
Tags
acquisition
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News
PENSKE AUTOMOTIVE GROUP REPORTS QUARTERLY RESULTS
Rhea-AI Summary
Penske Automotive Group, Inc. (NYSE: PAG) announced record quarterly revenue of $7.5 billion, an 8% increase. Net income decreased 20% to $300.8 million. Retail automotive same-store revenue increased 6%, with a 11% increase in service & parts. Retail commercial truck same-store revenue increased 19%, including a 4% increase in service & parts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.25%
Tags
none
News
PENSKE AUTOMOTIVE GROUP INCREASES DIVIDEND BY 9%
Rhea-AI Summary
Penske Automotive Group, Inc. (NYSE: PAG) announced a 9% increase in its quarterly dividend to $0.72 per share, citing strong cash flow and operational strength. President Robert Kurnick, Jr. expressed satisfaction in rewarding shareholders with the increase. The dividend is payable on September 1, 2023, to shareholders of record as of August 10, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.32%
Tags
dividends
Stock PAG logo
Penske Automotive Group, Inc.

NYSE:PAG

PAG Rankings

#791 Ranked by Market Cap
#668 Ranked by Stock Gains
#1317 Ranked by Dividends

PAG Stock Data

10.26B
18.60M
21.06%
77.34%
3.87%
New Car Dealers
Retail Trade
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United States of America
BLOOMFIELD HILLS

About PAG

penske automotive group is an international transportation services company that 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.