Mutual of America Capital Management LLC Reduces Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Mutual of America Capital Management LLC lowered its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,095 shares of the company’s stock after selling 645 shares during the period. Mutual of America Capital Management LLC’s holdings in Penske Automotive Group were worth $1,941,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PAG. JPMorgan Chase & Co. boosted its stake in Penske Automotive Group by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock worth $11,272,000 after purchasing an additional 2,842 shares during the period. Raymond James & Associates boosted its stake in Penske Automotive Group by 9.7% during the 1st quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock worth $3,039,000 after purchasing an additional 2,877 shares during the period. Bank of New York Mellon Corp boosted its stake in Penske Automotive Group by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock worth $28,864,000 after purchasing an additional 3,730 shares during the period. Cambridge Investment Research Advisors Inc. boosted 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 purchasing an additional 137 shares during the period. Finally, Citigroup Inc. boosted 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 purchasing an additional 860 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley increased 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. Bank of America raised 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $163.20.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,600 shares of the firm’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 completion of the sale, the director now owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction dated 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 owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Up 0.3 %

PAG stock opened at $147.94 on Friday. 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 one year low of $133.72 and a one year high of $180.84. The company has a fifty day moving average of $153.11 and a 200-day moving average of $152.90. The stock has a market capitalization of $9.92 billion, a PE ratio of 9.56 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing the consensus estimate 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 company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. During the same quarter last year, the business earned $4.21 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts expect that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

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.