Sanctuary Advisors LLC Invests $415,000 in Penske Automotive Group, Inc. (NYSE:PAG)

Sanctuary Advisors LLC acquired a new stake in Penske Automotive Group, Inc. (NYSE:PAG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,532 shares of the company’s stock, valued at approximately $415,000.

A number of other institutional investors also recently modified their holdings of PAG. Janus Henderson Group PLC increased its stake in 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 in the last quarter. Cerity Partners LLC grew its stake in shares of Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock valued at $2,166,000 after buying an additional 8,504 shares during the period. Aristeia Capital L.L.C. bought a new stake in Penske Automotive Group in the 2nd quarter valued at about $626,000. Millennium Management LLC raised its stake in Penske Automotive Group by 9.1% during the 2nd quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock worth $18,818,000 after buying an additional 10,522 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in 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 worth $1,134,000 after acquiring an additional 4,559 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

PAG opened at $156.94 on Friday. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 12.03 and a beta of 1.18. The firm’s fifty day moving average price is $159.73 and its two-hundred day moving average price is $158.07.

Penske Automotive Group (NYSE:PAG) last released 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). The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.90 earnings per share. As a group, analysts anticipate that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a $1.19 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a dividend yield of 3.03%. Penske Automotive Group’s dividend payout ratio is currently 36.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PAG. Benchmark started coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. Finally, Stephens assumed coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $170.25.

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.