Wealthspire Advisors LLC Has $417,000 Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Wealthspire Advisors LLC raised its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,738 shares of the company’s stock after buying an additional 63 shares during the quarter. Wealthspire Advisors LLC’s holdings in Penske Automotive Group were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PAG. GAMMA Investing LLC raised its stake in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. raised its position in shares of Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group in the third quarter valued at about $94,000. Finally, Capital Performance Advisors LLP bought a new position in Penske Automotive Group during the third quarter valued at about $112,000. 77.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PAG has been the topic of several research reports. Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating on the stock. Stephens restated an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a research note on Tuesday, February 18th. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $172.50.

Penske Automotive Group Stock Down 0.0 %

NYSE PAG opened at $167.43 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $161.39 and its two-hundred day moving average is $160.63. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 12.18 and a beta of 1.20. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $180.12.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Equities analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.91%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s payout ratio is presently 35.49%.

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 51.70% of the stock is owned by company insiders.

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.