New York State Common Retirement Fund Has $2.34 Million Stake in Penske Automotive Group, Inc. (NYSE:PAG)

New York State Common Retirement Fund lowered its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAG. Venturi Wealth Management LLC increased its holdings in shares of Penske Automotive Group by 113.6% in the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Penske Automotive Group by 100.0% in the third quarter. Grove Bank & Trust now owns 250 shares of the company’s stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock valued at $58,000 after purchasing an additional 165 shares in the last quarter. C M Bidwell & Associates Ltd. increased its holdings in shares of Penske Automotive Group by 305.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,038 shares of the company’s stock valued at $173,000 after purchasing an additional 782 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Penske Automotive Group in the third quarter valued at approximately $218,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction that occurred 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 sale, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director John Barr sold 1,600 shares of the business’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 transaction, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, 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 insiders.

Penske Automotive Group Price Performance

Shares of PAG stock opened at $153.22 on Wednesday. The firm’s 50 day moving average price is $153.82 and its two-hundred day moving average price is $152.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The stock has a market cap of $10.25 billion, a PE ratio of 10.66 and a beta of 1.21. Penske Automotive Group, Inc. has a 52-week low of $136.45 and a 52-week high of $180.84.

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

Wall Street Analyst Weigh In

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

Penske Automotive Group Company 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.