Sheaff Brock Investment Advisors LLC Sells 257 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Sheaff Brock Investment Advisors LLC reduced its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,159 shares of the company’s stock after selling 257 shares during the quarter. Sheaff Brock Investment Advisors LLC owned about 0.07% of Penske Automotive Group worth $7,494,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in shares of Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after purchasing an additional 10,663 shares during the last quarter. Highland Capital Management LLC acquired a new position in Penske Automotive Group in the 4th quarter valued at $240,000. Cerity Partners LLC increased its position in Penske Automotive Group by 176.1% during the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after buying an additional 8,504 shares during the period. Blue Trust Inc. lifted its holdings in shares of Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after buying an additional 269 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Penske Automotive Group by 188.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock valued at $1,134,000 after acquiring an additional 4,559 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $174.17 on Friday. The business has a fifty day moving average price of $160.49 and a two-hundred day moving average price of $160.41. The stock has a market capitalization of $11.63 billion, a PE ratio of 13.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. As a group, equities analysts predict that Penske Automotive Group, Inc. will post 13.51 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.80%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is 36.48%.

Analyst Ratings Changes

Separately, Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $170.25.

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.