Federated Hermes Inc. Cuts Position in Penske Automotive Group, Inc. (NYSE:PAG)

Federated Hermes Inc. lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 11.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,106 shares of the company’s stock after selling 275 shares during the quarter. Federated Hermes Inc.’s holdings in Penske Automotive Group were worth $338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in Penske Automotive Group by 113.6% in the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in Penske Automotive Group during the 3rd quarter valued at about $35,000. Grove Bank & Trust raised its stake in Penske Automotive Group by 100.0% in the third quarter. Grove Bank & Trust now owns 250 shares of the company’s stock valued at $42,000 after buying an additional 125 shares during the last quarter. Blue Trust Inc. boosted its holdings in Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after acquiring an additional 165 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Penske Automotive Group by 155.3% during the third quarter. Exchange Traded Concepts LLC now owns 457 shares of the company’s stock worth $76,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Insider Buying and Selling at Penske Automotive Group

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 transaction of $239,605.52. Following the sale, the director now owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Barr sold 1,600 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PAG shares. Morgan Stanley lifted their target price 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 company a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $163.20.

Penske Automotive Group Trading Up 0.6 %

Shares of Penske Automotive Group stock opened at $153.44 on Friday. The stock has a market cap of $10.26 billion, a PE ratio of 10.67 and a beta of 1.21. The firm has a fifty day moving average price of $153.72 and a 200 day moving average price of $152.83. Penske Automotive Group, Inc. has a 1 year low of $133.72 and a 1 year high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data 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 3.27% and a return on equity of 21.72%. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.52 billion. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $4.31 EPS. Equities research analysts predict that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current year.

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.