True Wealth Design LLC Acquires 445 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

True Wealth Design LLC boosted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 14,833.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448 shares of the company’s stock after purchasing an additional 445 shares during the quarter. True Wealth Design LLC’s holdings in Penske Automotive Group were worth $73,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PAG. OFI Invest Asset Management bought a new stake in shares of Penske Automotive Group during the 2nd quarter worth about $1,516,000. Manning & Napier Advisors LLC bought a new stake in shares of Penske Automotive Group during the second quarter worth approximately $3,742,000. Aristeia Capital L.L.C. bought a new stake in shares of Penske Automotive Group during the second quarter worth approximately $626,000. Tidal Investments LLC acquired a new position in shares of Penske Automotive Group in the first quarter valued at approximately $954,000. Finally, Millennium Management LLC increased its stake in shares of Penske Automotive Group by 9.1% during the second quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock worth $18,818,000 after purchasing an additional 10,522 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on PAG shares. Stephens initiated coverage on Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target for the company. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $166.54 on Friday. The business has a fifty day moving average price of $158.27 and a two-hundred day moving average price of $156.93. The stock has a market capitalization of $11.12 billion, a PE ratio of 12.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $179.72.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data 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). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the prior year, the company earned $3.90 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.86%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Friday, November 15th. Penske Automotive Group’s dividend payout ratio (DPR) is 36.48%.

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.