Janus Henderson Group PLC Has $6.43 Million Stock Position in Penske Automotive Group, Inc. (NYSE:PAG)

Janus Henderson Group PLC lifted its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 36.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,569 shares of the company's stock after purchasing an additional 10,663 shares during the quarter. Janus Henderson Group PLC owned 0.06% of Penske Automotive Group worth $6,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in PAG. OFI Invest Asset Management bought a new position in Penske Automotive Group during the second quarter valued at approximately $1,516,000. Cerity Partners LLC raised its position in Penske Automotive Group by 176.1% during the third quarter. Cerity Partners LLC now owns 13,333 shares of the company's stock valued at $2,166,000 after acquiring an additional 8,504 shares in the last quarter. Aristeia Capital L.L.C. bought a new position in Penske Automotive Group during the second quarter valued at approximately $626,000. Millennium Management LLC raised its position in Penske Automotive Group by 9.1% during the second quarter. Millennium Management LLC now owns 126,278 shares of the company's stock valued at $18,818,000 after acquiring an additional 10,522 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Penske Automotive Group by 188.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company's stock valued at $1,134,000 after acquiring an additional 4,559 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Penske Automotive Group from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens assumed 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 objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective 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.

Penske Automotive Group Stock Performance

Shares of NYSE:PAG traded down $0.17 during trading on Tuesday, reaching $163.83. The stock had a trading volume of 128,538 shares, compared to its average volume of 181,958. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $179.72. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 12.55 and a beta of 1.18. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $158.76 and a two-hundred day simple moving average of $157.42.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the prior year, the business 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, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a $1.19 dividend. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.91%. Penske Automotive Group's dividend payout ratio (DPR) is currently 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.