Penske Automotive Group, Inc. (NYSE:PAG) Stock Position Decreased by Sheaff Brock Investment Advisors LLC

by · The Cerbat Gem

Sheaff Brock Investment Advisors LLC reduced its position in Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,416 shares of the company’s stock after selling 365 shares during the period. Sheaff Brock Investment Advisors LLC owned about 0.07% of Penske Automotive Group worth $8,026,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Penske Automotive Group by 32.2% during the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Penske Automotive Group in the 2nd quarter valued at $69,000. Capital Performance Advisors LLP acquired a new stake in shares of Penske Automotive Group in the third quarter worth about $112,000. Blue Trust Inc. boosted its stake in shares of Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Penske Automotive Group during the 3rd quarter valued at about $209,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PAG shares. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Stephens began coverage on Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective for the company. Finally, Bank of America boosted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Check Out Our Latest Analysis on Penske Automotive Group

Penske Automotive Group Trading Up 0.7 %

Penske Automotive Group stock opened at $162.31 on Friday. The business has a 50 day moving average price of $156.36 and a two-hundred day moving average price of $156.22. 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, Inc. has a 12 month low of $142.32 and a 12 month high of $179.72. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 12.44 and a beta of 1.17.

Penske Automotive Group (NYSE:PAG – Get Free Report) last issued its 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 analyst estimates of $7.67 billion. During the same quarter in the previous year, the company posted $3.90 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Penske Automotive Group, Inc. will post 13.72 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, November 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.93%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 32.80%.

Penske Automotive Group Company Profile

(Free Report)

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.

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