Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,766 shares of the company’s stock after selling 1,266 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Penske Automotive Group were worth $1,946,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Janiczek Wealth Management LLC increased its holdings in shares of Penske Automotive Group by 137.9% in the second quarter. Janiczek Wealth Management LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Penske Automotive Group by 153.4% in the second quarter. Lazard Asset Management LLC now owns 299 shares of the company’s stock valued at $31,000 after purchasing an additional 181 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of Penske Automotive Group in the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC increased its holdings in shares of Penske Automotive Group by 651.6% in the second quarter. Exchange Traded Concepts LLC now owns 466 shares of the company’s stock valued at $49,000 after purchasing an additional 404 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Penske Automotive Group in the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 32.66% of the company’s stock.

Penske Automotive Group Stock Up 2.2 %

Shares of NYSE:PAG opened at $117.69 on Friday. The stock’s fifty day simple moving average is $119.91 and its 200-day simple moving average is $113.35. Penske Automotive Group, Inc. has a 52-week low of $88.58 and a 52-week high of $131.55. The company has a market capitalization of $8.39 billion, a P/E ratio of 6.43, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 0.38.

Penske Automotive Group (NYSE:PAG – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $4.61 EPS for the quarter, topping the consensus estimate of $4.38 by $0.23. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.79 billion. Penske Automotive Group had a return on equity of 33.86% and a net margin of 5.14%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.46 earnings per share. As a group, equities research analysts forecast that Penske Automotive Group, Inc. will post 18.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PAG has been the topic of a number of recent research reports. StockNews.com lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Morgan Stanley dropped their price objective on Penske Automotive Group from $93.00 to $88.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on Penske Automotive Group from $125.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 6th.

Penske Automotive Group Company Profile

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Penske Automotive Group, Inc operates as an international transportation services company. Which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.