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

Arizona State Retirement System lessened its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,644 shares of the company’s stock after selling 249 shares during the quarter. Arizona State Retirement System’s holdings in Penske Automotive Group were worth $906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC raised its stake in shares of Penske Automotive Group by 113.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of Penske Automotive Group during the 3rd quarter worth $35,000. Grove Bank & Trust raised its stake in shares of Penske Automotive Group by 100.0% during the 3rd quarter. Grove Bank & Trust now owns 250 shares of the company’s stock worth $42,000 after buying an additional 125 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Penske Automotive Group by 91.2% during the 4th quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after buying an additional 165 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Penske Automotive Group during the 3rd quarter worth $69,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Activity

In other news, Director John Barr sold 1,600 shares of the company’s 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 transaction, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director John Barr sold 1,600 shares of the company’s 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 transaction, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following 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. Corporate insiders own 52.20% of the company’s stock.

Penske Automotive Group Trading Up 0.8 %

Shares of PAG stock opened at $150.62 on Wednesday. The firm has a 50-day moving average price of $153.19 and a 200 day moving average price of $153.07. Penske Automotive Group, Inc. has a twelve month low of $133.72 and a twelve month high of $180.84. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 9.73 and a beta of 1.19. 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 (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). Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. During the same period in the previous year, the firm posted $4.21 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts forecast that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAG. Morgan Stanley lifted their price target on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. Bank of America boosted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $163.20.

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.