Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Penske Automotive Group, Inc. (NYSE:PAG) by 51.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,422 shares of the company’s stock after buying an additional 827 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Penske Automotive Group were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PAG. Apollon Wealth Management LLC boosted its holdings in Penske Automotive Group by 4.0% during the 4th quarter. Apollon Wealth Management LLC now owns 1,785 shares of the company’s stock valued at $287,000 after acquiring an additional 68 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Penske Automotive Group by 1.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock valued at $672,000 after purchasing an additional 73 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Penske Automotive Group by 35.2% in the first quarter. Gradient Investments LLC now owns 380 shares of the company’s stock valued at $62,000 after purchasing an additional 99 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in Penske Automotive Group by 1.8% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 5,575 shares of the company’s stock worth $895,000 after buying an additional 99 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Penske Automotive Group by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the company’s stock worth $907,000 after buying an additional 100 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Trading Up 2.5 %

Shares of NYSE:PAG opened at $169.47 on Friday. Penske Automotive Group, Inc. has a 52 week low of $137.95 and a 52 week high of $179.72. The company’s 50 day moving average is $156.60 and its two-hundred day moving average is $154.16. The company has a market cap of $11.33 billion, a PE ratio of 11.79 and a beta of 1.18. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, beating the consensus estimate of $3.39 by $0.22. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. Penske Automotive Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.41 earnings per share. Equities analysts predict that Penske Automotive Group, Inc. will post 13.66 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s dividend payout ratio (DPR) is 29.76%.

Insider Buying and Selling

In other Penske Automotive Group news, Director John Barr sold 716 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a document filed with the SEC, which is available through this link. 51.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PAG shares. Bank of America upped their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on Penske Automotive Group from $135.00 to $140.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Hold” and an average target price of $157.75.

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.