Janney Montgomery Scott LLC Acquires 496 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Janney Montgomery Scott LLC raised its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,568 shares of the company’s stock after buying an additional 496 shares during the period. Janney Montgomery Scott LLC’s holdings in Penske Automotive Group were worth $7,564,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Applied Capital LLC FL grew its stake in shares of Penske Automotive Group by 0.4% in the third quarter. Applied Capital LLC FL now owns 21,176 shares of the company’s stock valued at $3,439,000 after buying an additional 77 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Penske Automotive Group by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock worth $838,000 after buying an additional 84 shares during the last quarter. Fifth Third Bancorp boosted its holdings 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 worth $56,000 after buying an additional 91 shares during the period. Linden Thomas Advisory Services LLC grew its stake in Penske Automotive Group by 1.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company’s stock valued at $1,041,000 after buying an additional 102 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Penske Automotive Group by 17.5% in the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after acquiring an additional 113 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $158.97 on Friday. The firm has a market cap of $10.61 billion, a PE ratio of 12.18 and a beta of 1.17. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $179.72. The firm’s fifty day moving average is $156.68 and its 200-day moving average is $156.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. Penske Automotive Group’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.90 EPS. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.7 earnings per share 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. Stockholders of record on Friday, November 15th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.99%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is currently 36.48%.

Analyst Upgrades and Downgrades

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