Advisors Asset Management Inc. Has $1.57 Million Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Advisors Asset Management Inc. reduced its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,673 shares of the company’s stock after selling 2,117 shares during the period. Advisors Asset Management Inc.’s holdings in Penske Automotive Group were worth $1,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Penske Automotive Group by 4.8% in the first quarter. Janus Henderson Group PLC now owns 30,736 shares of the company’s stock worth $4,980,000 after acquiring an additional 1,405 shares during the last quarter. Tidal Investments LLC bought a new position in Penske Automotive Group in the 1st quarter valued at approximately $954,000. Cetera Advisors LLC acquired a new stake in Penske Automotive Group in the first quarter valued at approximately $230,000. CWM LLC increased its holdings in shares of Penske Automotive Group by 94.5% during the second quarter. CWM LLC now owns 4,505 shares of the company’s stock worth $671,000 after buying an additional 2,189 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of 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 worth $1,041,000 after buying an additional 102 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAG has been the topic of a number of research reports. Stephens initiated coverage on 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. JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley upgraded 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 report on Wednesday, September 25th.

Penske Automotive Group Stock Up 3.8 %

Shares of PAG opened at $170.38 on Tuesday. The stock’s 50-day moving average price is $157.35 and its two-hundred day moving average price is $156.60. Penske Automotive Group, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The company has a market capitalization of $11.38 billion, a PE ratio of 13.06 and a beta of 1.17. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.02). The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.90 earnings per share. On average, analysts anticipate that Penske Automotive Group, Inc. will post 13.53 EPS for the current 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 given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a dividend yield of 2.79%. Penske Automotive Group’s dividend payout ratio is 36.48%.

Penske Automotive Group Company 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.