Wipfli Financial Advisors LLC purchased a new position in shares of Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) in the third quarter, HoldingsChannel reports. The fund purchased 323 shares of the company’s stock, valued at approximately $32,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAG. JPMorgan Chase & Co. lifted its holdings in shares of Penske Automotive Group by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock valued at $11,272,000 after buying an additional 2,842 shares during the period. Raymond James & Associates increased its stake in shares of Penske Automotive Group by 9.7% in the 1st 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 in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Penske Automotive Group by 1.2% in the 1st 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Penske Automotive Group by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock worth $784,000 after buying an additional 137 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Penske Automotive Group by 3.5% during the 1st quarter. Citigroup Inc. now owns 25,355 shares of the company’s stock worth $2,376,000 after buying an additional 860 shares in the last quarter. Institutional investors and hedge funds own 32.66% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on PAG shares. JPMorgan Chase & Co. cut their price objective on Penske Automotive Group from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 6th. StockNews.com lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Finally, Morgan Stanley dropped their price target on Penske Automotive Group from $93.00 to $88.00 and set an “underweight” rating for the company in a research report on Tuesday.
Penske Automotive Group Price Performance
Penske Automotive Group (NYSE:PAG – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The company reported $4.61 EPS for the quarter, beating analysts’ consensus estimates of $4.38 by $0.23. Penske Automotive Group had a return on equity of 33.86% and a net margin of 5.14%. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.79 billion. During the same period in the prior year, the firm posted $4.46 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Penske Automotive Group, Inc. will post 18.35 earnings per share for the current fiscal year.
Penske Automotive Group Profile
Penske Automotive Group, Inc operates as an international transportation services company. Which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.
- Get a free copy of the StockNews.com research report on Penske Automotive Group (PAG)
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