Ashton Thomas Private Wealth LLC Has $286,000 Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Ashton Thomas Private Wealth LLC grew its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,878 shares of the company’s stock after buying an additional 170 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Penske Automotive Group were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PAG. GAMMA Investing LLC boosted its holdings in Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the last quarter. True Wealth Design LLC boosted its holdings in Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after acquiring an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Penske Automotive Group in the third quarter valued at about $94,000. Finally, KBC Group NV boosted its holdings in Penske Automotive Group by 33.5% in the fourth quarter. KBC Group NV now owns 749 shares of the company’s stock valued at $114,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 51.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Stephens restated an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $172.50.

Penske Automotive Group Trading Down 4.2 %

NYSE PAG opened at $160.33 on Wednesday. The firm has a market cap of $10.70 billion, a P/E ratio of 11.66 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The stock’s 50-day moving average is $163.05 and its 200-day moving average is $160.74. Penske Automotive Group, Inc. has a one year low of $142.32 and a one year high of $180.12.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a dividend of $1.22 per share. The ex-dividend date was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.