Empowered Funds LLC Purchases 330 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Empowered Funds LLC raised its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,282 shares of the company’s stock after buying an additional 330 shares during the period. Empowered Funds LLC’s holdings in Penske Automotive Group were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Penske Automotive Group in the 2nd quarter valued at $1,516,000. Manning & Napier Advisors LLC bought a new position in shares of Penske Automotive Group in the second quarter valued at about $3,742,000. Aristeia Capital L.L.C. bought a new position in shares of Penske Automotive Group in the second quarter valued at about $626,000. Tidal Investments LLC acquired a new position in Penske Automotive Group during the 1st quarter worth about $954,000. Finally, Millennium Management LLC grew its holdings in Penske Automotive Group by 9.1% during the 2nd quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock worth $18,818,000 after acquiring an additional 10,522 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Up 3.8 %

Shares of NYSE PAG opened at $170.38 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $11.38 billion, a PE ratio of 13.06 and a beta of 1.17. The firm’s 50-day moving average is $157.35 and its 200-day moving average is $156.60. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $179.72.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The business 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%. Penske Automotive Group’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.90 earnings per share. Equities analysts expect that Penske Automotive Group, Inc. will post 13.53 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. Investors of record on Friday, November 15th will be paid 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 2.79%. Penske Automotive Group’s payout ratio is 36.48%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $180.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective 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, 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 on the stock.

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.