Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Penske Automotive Group, Inc. $PAG

Wealth Enhancement Advisory Services LLC increased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 394.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,593 shares of the company’s stock after purchasing an additional 37,967 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Penske Automotive Group were worth $7,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC increased its holdings in shares of Penske Automotive Group by 935.3% during the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after buying an additional 159 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Penske Automotive Group during the third quarter worth $33,000. Acadian Asset Management LLC purchased a new stake in Penske Automotive Group in the first quarter valued at $42,000. Smartleaf Asset Management LLC lifted its stake in shares of Penske Automotive Group by 237.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock valued at $54,000 after purchasing an additional 218 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of Penske Automotive Group by 36.1% during the 3rd quarter. Clearstead Advisors LLC now owns 441 shares of the company’s stock worth $77,000 after purchasing an additional 117 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Down 0.3%

Shares of NYSE:PAG opened at $148.45 on Friday. The firm has a market capitalization of $9.76 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. Penske Automotive Group, Inc. has a 1 year low of $134.05 and a 1 year high of $189.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22. The firm’s 50-day moving average is $158.09 and its two-hundred day moving average is $163.50.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.62 billion. During the same period in the previous year, the business posted $3.54 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were paid a $1.40 dividend. The ex-dividend date was Wednesday, February 25th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a dividend yield of 3.8%. Penske Automotive Group’s payout ratio is 41.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PAG shares. JPMorgan Chase & Co. cut their price objective on Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Barclays upped their price objective on shares of Penske Automotive Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Finally, Bank of America began coverage on Penske Automotive Group in a research note on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.71.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.