Penske Automotive Group, Inc. (NYSE:PAG) Stock Holdings Boosted by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,738 shares of the company’s stock after purchasing an additional 63 shares during the quarter. Wealthspire Advisors LLC’s holdings in Penske Automotive Group were worth $417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Penske Automotive Group by 12,674.5% during the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock valued at $9,606,000 after acquiring an additional 58,683 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Penske Automotive Group by 188.2% during the 3rd 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 last quarter. Pallas Capital Advisors LLC lifted its position in shares of Penske Automotive Group by 103.3% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,438 shares of the company’s stock valued at $529,000 after acquiring an additional 1,747 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Penske Automotive Group by 3.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,512 shares of the company’s stock valued at $1,140,000 after acquiring an additional 221 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Penske Automotive Group by 1.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,568 shares of the company’s stock valued at $7,564,000 after acquiring an additional 496 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PAG. Stephens reiterated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark began coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.50.

Penske Automotive Group Price Performance

Shares of PAG opened at $167.43 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm has a market cap of $11.18 billion, a PE ratio of 12.18 and a beta of 1.20. The firm’s 50 day moving average price is $161.39 and its 200 day moving average price is $160.63. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $180.12.

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

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is 35.49%.

Insider Activity

In other news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. 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.

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.