Ashton Thomas Private Wealth LLC Has $277,000 Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Ashton Thomas Private Wealth LLC lifted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,708 shares of the company’s stock after acquiring an additional 84 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Penske Automotive Group were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its position in Penske Automotive Group by 6.2% during the 1st quarter. Gabelli Funds LLC now owns 85,500 shares of the company’s stock worth $13,850,000 after buying an additional 5,000 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Penske Automotive Group by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,466 shares of the company’s stock worth $4,935,000 after acquiring an additional 4,057 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Penske Automotive Group in the second quarter worth approximately $1,516,000. Manning & Napier Advisors LLC purchased a new stake in Penske Automotive Group in the 2nd quarter valued at $3,742,000. Finally, Aristeia Capital L.L.C. bought a new stake in Penske Automotive Group in the 2nd quarter worth about $626,000. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $162.31 on Friday. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The business has a fifty day simple moving average of $156.36 and a two-hundred day simple moving average of $156.22. The firm has a market capitalization of $10.84 billion, a P/E ratio of 12.44 and a beta of 1.17. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate 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 firm 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 earned $3.90 EPS. Penske Automotive Group’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.71 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared 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 is Friday, November 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a yield of 2.93%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analysts Forecast Growth

PAG has been the subject of several research reports. Bank of America increased their price target 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 started 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 price objective for the company. Morgan Stanley raised 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 report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th.

Penske Automotive Group 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.