New York State Common Retirement Fund Sells 2,942 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

New York State Common Retirement Fund reduced its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,577 shares of the company’s stock after selling 2,942 shares during the period. New York State Common Retirement Fund’s holdings in Penske Automotive Group were worth $2,340,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PAG. Duality Advisers LP bought a new stake in Penske Automotive Group in the fourth quarter worth $352,000. Xponance Inc. boosted its holdings in Penske Automotive Group by 8.4% during the 4th quarter. Xponance Inc. now owns 3,022 shares of the company’s stock valued at $485,000 after acquiring an additional 234 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Penske Automotive Group by 9.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,295 shares of the company’s stock worth $689,000 after acquiring an additional 359 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in Penske Automotive Group by 23.7% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,009 shares of the company’s stock worth $322,000 after purchasing an additional 385 shares during the period. Finally, Strs Ohio lifted its position in Penske Automotive Group by 18.5% in the fourth quarter. Strs Ohio now owns 13,314 shares of the company’s stock valued at $2,137,000 after purchasing an additional 2,079 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the stock in a transaction on 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 in the company, valued at $110,299.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $246,480.00. Following the sale, the director now directly 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 can be accessed through this link. Also, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated 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 transaction, 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. 52.20% of the stock is currently owned by company insiders.

Penske Automotive Group Stock Down 0.5 %

Shares of Penske Automotive Group stock opened at $153.22 on Wednesday. The company’s fifty day simple moving average is $153.82 and its two-hundred day simple moving average is $152.92. Penske Automotive Group, Inc. has a 12-month low of $136.45 and a 12-month high of $180.84. The company has a current ratio of 0.98, a quick ratio of 0.23 and a debt-to-equity ratio of 0.30. The company has a market cap of $10.25 billion, a P/E ratio of 10.66 and a beta of 1.21.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. Penske Automotive Group’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.31 earnings per share. Research analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAG. Bank of America lifted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $163.20.

Penske Automotive Group 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.