Allspring Global Investments Holdings LLC Sells 4,374 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Allspring Global Investments Holdings LLC lowered its holdings in Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 27.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,383 shares of the company’s stock after selling 4,374 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Penske Automotive Group were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PAG. Janiczek Wealth Management LLC grew its stake in Penske Automotive Group by 137.9% during the second quarter. Janiczek Wealth Management LLC now owns 226 shares of the company’s stock worth $26,000 after buying an additional 131 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Penske Automotive Group by 153.4% during the second quarter. Lazard Asset Management LLC now owns 299 shares of the company’s stock worth $31,000 after purchasing an additional 181 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Penske Automotive Group during the third quarter worth approximately $32,000. Exchange Traded Concepts LLC lifted its holdings in Penske Automotive Group by 651.6% in the second quarter. Exchange Traded Concepts LLC now owns 466 shares of the company’s stock valued at $49,000 after buying an additional 404 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Penske Automotive Group in the second quarter valued at approximately $55,000. Institutional investors own 32.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PAG shares. StockNews.com lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Morgan Stanley lowered their target price on shares of Penske Automotive Group from $93.00 to $88.00 and set an “underweight” rating for the company in a research note on Tuesday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of 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.

Penske Automotive Group Stock Up 2.2 %

Shares of PAG stock opened at $117.69 on Friday. The firm has a fifty day moving average of $119.91 and a 200-day moving average of $113.39. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. Penske Automotive Group, Inc. has a 12-month low of $88.58 and a 12-month high of $131.55. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 6.43, a P/E/G ratio of 1.76 and a beta of 1.28.

Penske Automotive Group (NYSE:PAG – Get Rating) last released its earnings results on Wednesday, October 26th. The company reported $4.61 earnings per share for the quarter, beating analysts’ consensus estimates of $4.38 by $0.23. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.79 billion. Penske Automotive Group had a net margin of 5.14% and a return on equity of 33.86%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.46 earnings per share. As a group, equities research analysts predict that Penske Automotive Group, Inc. will post 18.35 earnings per share for the current fiscal year.

About Penske Automotive Group

(Get Rating)

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.