Envestnet Asset Management Inc. Purchases 645 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Envestnet Asset Management Inc. boosted its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 15.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,898 shares of the company’s stock after purchasing an additional 645 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Penske Automotive Group were worth $747,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PAG. Wealthspire Advisors LLC increased its holdings in shares of Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares during the last quarter. Blue Chip Partners LLC increased its holdings in shares of Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after buying an additional 73 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after buying an additional 81 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Penske Automotive Group by 5.1% in the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after acquiring an additional 88 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Penske Automotive Group by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,055 shares of the company’s stock worth $313,000 after acquiring an additional 109 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAG has been the topic of several recent research reports. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Citigroup assumed coverage on Penske Automotive Group in a report on Wednesday, April 23rd. They set a “buy” rating and a $185.00 price objective for the company. Finally, Stephens reissued an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $170.00.

Insider Activity at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

Penske Automotive Group Trading Up 1.0 %

NYSE PAG opened at $157.11 on Friday. Penske Automotive Group, Inc. has a 52 week low of $134.05 and a 52 week high of $180.12. The company has a 50 day moving average price of $153.45 and a 200 day moving average price of $158.16. 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 firm has a market cap of $10.49 billion, a PE ratio of 11.43 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.12. The business had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.21 earnings per share. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.11%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is presently 34.37%.

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.