Raymond James Financial Services Advisors Inc. Purchases 358 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Raymond James Financial Services Advisors Inc. increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,117 shares of the company’s stock after acquiring an additional 358 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Penske Automotive Group were worth $500,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PAG. JPMorgan Chase & Co. lifted its position in Penske Automotive Group by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock valued at $11,272,000 after purchasing an additional 2,842 shares during the last quarter. Raymond James & Associates lifted its position in Penske Automotive Group by 9.7% during the first quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock valued at $3,039,000 after purchasing an additional 2,877 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Penske Automotive Group by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock valued at $28,864,000 after purchasing an additional 3,730 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Penske Automotive Group by 1.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock valued at $784,000 after purchasing an additional 137 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Penske Automotive Group by 3.5% during the first quarter. Citigroup Inc. now owns 25,355 shares of the company’s stock valued at $2,376,000 after purchasing an additional 860 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Trading Up 0.3 %

Shares of PAG opened at $147.94 on Friday. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 9.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.00. Penske Automotive Group, Inc. has a fifty-two week low of $133.72 and a fifty-two week high of $180.84. The firm has a 50 day moving average price of $153.11 and a 200-day moving average price of $152.90.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.18 billion. During the same quarter in the prior year, the company earned $4.21 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current year.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,600 shares of the company’s stock in a transaction on 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 directly owns 716 shares in the company, valued at approximately $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director John Barr sold 1,600 shares of the company’s stock in a transaction on 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 directly owns 716 shares in the company, valued at approximately $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction 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 sale, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on PAG shares. Morgan Stanley lifted their price target on shares of 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 price objective 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Hold” and an average price target of $163.20.

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.