Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 188.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,981 shares of the company’s stock after acquiring an additional 4,559 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Penske Automotive Group were worth $1,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAG. Fifth Third Bancorp grew its position in shares of Penske Automotive Group by 32.2% during the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after purchasing an additional 91 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Penske Automotive Group during the second quarter worth about $69,000. Blue Trust Inc. increased its stake in Penske Automotive Group by 17.5% in the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Penske Automotive Group in the 3rd quarter valued at about $209,000. Finally, Cetera Advisors LLC bought a new stake in shares of Penske Automotive Group during the 1st quarter valued at about $230,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock opened at $151.68 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.22 and a current ratio of 0.91. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72. The company has a fifty day moving average of $157.49 and a 200-day moving average of $155.86. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 11.62 and a beta of 1.17.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same period last year, the business posted $3.90 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Penske Automotive Group, Inc. will post 13.72 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.14%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is presently 36.48%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PAG shares. JPMorgan Chase & Co. raised their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th. Bank of America raised their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Stephens assumed coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price for the company. Finally, Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th.

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.