Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,644 shares of the company’s stock after selling 249 shares during the period. Arizona State Retirement System’s holdings in Penske Automotive Group were worth $906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PAG. Moneta Group Investment Advisors LLC acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $260,702,000. Envestnet Asset Management Inc. grew its holdings in shares of Penske Automotive Group by 3,459.1% in the first quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock valued at $1,783,000 after purchasing an additional 601,536 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Penske Automotive Group by 491.7% in the first quarter. Balyasny Asset Management L.P. now owns 348,863 shares of the company’s stock valued at $49,472,000 after purchasing an additional 289,902 shares during the period. Norges Bank purchased a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $25,163,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Penske Automotive Group by 2,465.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 205,296 shares of the company’s stock valued at $21,492,000 after purchasing an additional 197,293 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley upped their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $163.20.

Insiders Place Their Bets

In other news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the transaction, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John Barr sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the completion of the transaction, the director now owns 716 shares of the company’s stock, valued at $110,299.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the transaction, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The disclosure for this sale can be found here. 52.20% of the stock is currently owned by insiders.

Penske Automotive Group Trading Up 0.8 %

Shares of PAG stock opened at $150.62 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25. The firm has a market cap of $10.10 billion, a PE ratio of 9.73 and a beta of 1.19. The company has a 50-day moving average of $153.19 and a two-hundred day moving average of $153.07. Penske Automotive Group, Inc. has a 1-year low of $133.72 and a 1-year high of $180.84.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.21). The company had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.18 billion. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $4.21 EPS. On average, analysts predict that Penske Automotive Group, Inc. will post 13.83 EPS for the current year.

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.