Wealth Enhancement Advisory Services LLC Increases Stake in Penske Automotive Group, Inc. $PAG

Key Points

• Wealth Enhancement Advisory Services LLC boosted its stake in Penske Automotive by 394.4% in Q4 to 47,593 shares (about $7.73M), representing roughly 0.07% of the company.
• Penske reported Q EPS of $2.91, missing estimates of $3.19 while revenue was $7.77B (down 3.8% YoY), and the company raised its quarterly dividend to $1.40 (annualized $5.60) for a ~3.8% yield.
• Institutional investors own about 77.08% of the stock, and analysts have a "Moderate Buy" consensus with an average target of $183.71 amid mixed recent rating changes (six Buys, three Holds).

Wealth Enhancement Advisory Services LLC grew its stake in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 394.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,593 shares of the company's stock after purchasing an additional 37,967 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.07% of Penske Automotive Group worth $7,726,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC grew its position in Penske Automotive Group by 935.3% during the third quarter. Rothschild Investment LLC now owns 176 shares of the company's stock valued at $31,000 after buying an additional 159 shares during the period. Root Financial Partners LLC acquired a new position in shares of Penske Automotive Group during the 3rd quarter worth approximately $33,000. Acadian Asset Management LLC acquired a new stake in Penske Automotive Group in the 1st quarter valued at $42,000. Smartleaf Asset Management LLC increased its holdings in Penske Automotive Group by 237.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 310 shares of the company's stock worth $54,000 after acquiring an additional 218 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Penske Automotive Group by 36.1% in the 3rd quarter. Clearstead Advisors LLC now owns 441 shares of the company's stock worth $77,000 after acquiring an additional 117 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $148.45 on Friday. The company has a market cap of $9.76 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.56 and a beta of 0.90. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51. The company's 50-day moving average price is $158.09 and its 200-day moving average price is $163.50. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.19 by ($0.28). The business had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The firm's revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.54 EPS. On average, sell-side 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 was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.8%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Wednesday, February 25th. Penske Automotive Group's dividend payout ratio is presently 41.48%.

Wall Street Analysts Forecast Growth

PAG has been the topic of several research analyst reports. Barclays lifted their target price on shares of Penske Automotive Group from $190.00 to $195.00 and gave the company an "overweight" rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $175.00 to $170.00 and set a "neutral" rating on the stock in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Bank of America started coverage on Penske Automotive Group in a report on Tuesday, December 9th. They set a "buy" rating and a $195.00 target price for the company. Finally, Weiss Ratings lowered Penske Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 16th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Penske Automotive Group has an average rating of "Moderate Buy" and a consensus target price of $183.71.

About Penske Automotive Group

Penske Automotive Group, Inc NYSE: PAG, headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.

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