Ashton Thomas Private Wealth LLC Purchases 84 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Ashton Thomas Private Wealth LLC increased its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 5.2% in the 3rd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of Penske Automotive Group by 316.1% during the 1st quarter. SG Americas Securities LLC now owns 2,954 shares of the company’s stock worth $479,000 after buying an additional 2,244 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Penske Automotive Group by 15.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 30,466 shares of the company’s stock valued at $4,935,000 after purchasing an additional 4,057 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Penske Automotive Group by 30.9% in the first quarter. Ontario Teachers Pension Plan Board now owns 8,754 shares of the company’s stock worth $1,418,000 after buying an additional 2,068 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Penske Automotive Group by 133.9% during the 1st quarter. Edgestream Partners L.P. now owns 30,048 shares of the company’s stock worth $4,867,000 after purchasing an additional 17,204 shares during the period. Finally, Bahl & Gaynor Inc. increased its holdings in Penske Automotive Group by 7.8% in the first quarter. Bahl & Gaynor Inc. now owns 67,779 shares of the company’s stock valued at $10,980,000 after buying an additional 4,912 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.7 %

Shares of Penske Automotive Group stock opened at $162.31 on Friday. The company’s 50-day simple moving average is $156.36 and its 200-day simple moving average is $156.22. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 12.44 and a beta of 1.17. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a 52-week low of $142.32 and a 52-week high of $179.72.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) 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 net margin of 2.91% and a return on equity of 18.38%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.90 EPS. As a group, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.71 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced 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 a positive change 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 currently 32.80%.

Analyst Ratings Changes

A number of research firms have weighed in on PAG. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens assumed coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. Finally, Bank of America raised their price target 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.

About Penske Automotive Group

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.