Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in Penske Automotive Group, Inc. (NYSE:PAG) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,906 shares of the company’s stock after selling 555 shares during the quarter. California Public Employees Retirement System’s holdings in Penske Automotive Group were worth $6,566,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PAG. Venturi Wealth Management LLC increased its position in shares of Penske Automotive Group by 113.6% during 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 during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Penske Automotive Group in the 3rd quarter valued at approximately $35,000. Grove Bank & Trust raised its position 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 purchasing an additional 125 shares during the period. Blue Trust Inc. lifted its stake in Penske Automotive Group by 91.2% during the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after purchasing an additional 165 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position 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 buying an additional 278 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America boosted their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley boosted 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. Two investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $163.20.

Penske Automotive Group Stock Up 0.6 %

PAG stock opened at $153.44 on Friday. Penske Automotive Group, Inc. has a fifty-two week low of $133.72 and a fifty-two week high of $180.84. The company’s 50 day moving average price is $153.72 and its 200 day moving average price is $152.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 0.98. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.67 and a beta of 1.21.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.52 billion. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. Penske Automotive Group’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.31 earnings per share. On average, equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greg C. Smith sold 1,604 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the transaction, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Barr sold 1,600 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 716 shares of the company’s stock, valued at $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

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.