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

Wealth Enhancement Advisory Services LLC increased its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 188.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,981 shares of the company's stock after acquiring an additional 4,559 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Penske Automotive Group were worth $1,134,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Applied Capital LLC FL boosted its position in shares of Penske Automotive Group by 0.4% in the third quarter. Applied Capital LLC FL now owns 21,176 shares of the company's stock worth $3,439,000 after acquiring an additional 77 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Penske Automotive Group by 1.5% in the second quarter. Arizona State Retirement System now owns 5,626 shares of the company's stock worth $838,000 after acquiring an additional 84 shares during the last quarter. Fifth Third Bancorp lifted its position in Penske Automotive Group by 32.2% during the second quarter. Fifth Third Bancorp now owns 374 shares of the company's stock valued at $56,000 after buying an additional 91 shares in the last quarter. State of Michigan Retirement System lifted its position in Penske Automotive Group by 2.1% during the first quarter. State of Michigan Retirement System now owns 4,800 shares of the company's stock valued at $778,000 after buying an additional 100 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in Penske Automotive Group by 1.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company's stock valued at $1,041,000 after buying an additional 102 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Stock Up 2.1 %

Shares of PAG traded up $3.12 during mid-day trading on Tuesday, reaching $154.80. 103,704 shares of the stock traded hands, compared to its average volume of 186,588. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 11.86 and a beta of 1.17. The stock has a fifty day simple moving average of $157.22 and a 200 day simple moving average of $155.90. Penske Automotive Group, Inc. has a 12-month low of $142.32 and a 12-month high of $179.72. 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 (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.90 EPS. Sell-side analysts expect that Penske Automotive Group, Inc. will post 13.72 EPS 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. Stockholders of record on Friday, November 15th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.07. Penske Automotive Group's dividend payout ratio (DPR) is currently 32.80%.

Wall Street Analysts Forecast Growth

PAG has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a research report on Tuesday, September 10th. Stephens initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price target on the stock. Finally, Morgan Stanley raised shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and lifted their price target for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th.

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.