State of New Jersey Common Pension Fund D Has $2.66 Million Position in Penske Automotive Group, Inc. (NYSE:PAG)

State of New Jersey Common Pension Fund D boosted its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,570 shares of the company’s stock after buying an additional 1,497 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Penske Automotive Group were worth $2,660,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAG. Vanguard Personalized Indexing Management LLC raised its holdings in Penske Automotive Group by 3.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock worth $370,000 after purchasing an additional 70 shares during the period. Arizona State Retirement System raised its holdings in Penske Automotive Group by 1.3% in the third quarter. Arizona State Retirement System now owns 5,893 shares of the company’s stock worth $984,000 after purchasing an additional 73 shares during the period. Alaska Permanent Fund Corp raised its holdings in Penske Automotive Group by 0.5% in the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock worth $2,516,000 after purchasing an additional 75 shares during the period. SkyOak Wealth LLC raised its holdings in Penske Automotive Group by 3.2% in the fourth quarter. SkyOak Wealth LLC now owns 2,550 shares of the company’s stock worth $409,000 after purchasing an additional 80 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Penske Automotive Group by 113.6% in the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Down 1.6 %

Shares of PAG stock opened at $152.97 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30. Penske Automotive Group, Inc. has a 1 year low of $133.72 and a 1 year high of $180.84. The firm’s fifty day moving average price is $153.53 and its two-hundred day moving average price is $152.82. The firm has a market capitalization of $10.26 billion, a P/E ratio of 9.88 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($0.14). Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the firm posted $4.31 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PAG shares. Bank of America increased their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley increased their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $163.20.

Insider Activity

In other news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated 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 approximately $110,299.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the sale, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the sale, 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. Insiders own 52.20% of the company’s stock.

About Penske Automotive Group

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.