Raymond James Financial Services Advisors Inc. Has $500,000 Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Raymond James Financial Services Advisors Inc. increased its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,117 shares of the company’s stock after purchasing an additional 358 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Penske Automotive Group were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC acquired a new position in Penske Automotive Group during the 4th quarter worth approximately $260,702,000. BlackRock Inc. increased its position in Penske Automotive Group by 4.6% during the 3rd quarter. BlackRock Inc. now owns 1,404,836 shares of the company’s stock worth $138,279,000 after purchasing an additional 61,972 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Penske Automotive Group by 24.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 827,445 shares of the company’s stock worth $86,625,000 after purchasing an additional 164,060 shares in the last quarter. Bank of America Corp DE increased its position in Penske Automotive Group by 0.6% during the 1st quarter. Bank of America Corp DE now owns 665,868 shares of the company’s stock worth $94,427,000 after purchasing an additional 3,745 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Penske Automotive Group by 3,459.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock valued at $1,783,000 after acquiring an additional 601,536 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Trading Up 0.3 %

NYSE:PAG opened at $147.94 on Friday. The firm’s fifty day moving average is $153.11 and its 200-day moving average is $152.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.00. Penske Automotive Group, Inc. has a 52 week low of $133.72 and a 52 week high of $180.84. The firm has a market cap of $9.92 billion, a P/E ratio of 9.56 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same period in the prior year, the company posted $4.21 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts expect that Penske Automotive Group, Inc. will post 13.83 earnings per share for the current year.

Insider Activity

In related news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction 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 transaction, the director now directly owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John Barr sold 1,600 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the transaction, the director now directly owns 716 shares of the company’s stock, valued at $110,299.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Greg C. Smith sold 1,604 shares of the stock in a transaction 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 directly owns 51,001 shares in the company, valued at $7,618,529.38. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target 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. Bank of America upped their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.