Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,209 shares of the company’s stock after buying an additional 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Penske Automotive Group were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Penske Automotive Group during the third quarter worth approximately $1,257,000. Tudor Investment Corp Et Al grew its position in shares of Penske Automotive Group by 29.9% during the third quarter. Tudor Investment Corp Et Al now owns 69,253 shares of the company’s stock worth $11,569,000 after buying an additional 15,946 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Penske Automotive Group by 306.3% during the third quarter. Hsbc Holdings PLC now owns 25,785 shares of the company’s stock worth $4,331,000 after buying an additional 19,438 shares in the last quarter. Invesco Ltd. grew its position in shares of Penske Automotive Group by 164.3% during the third quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock worth $48,908,000 after buying an additional 181,995 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Penske Automotive Group by 47.4% during the third quarter. Northern Trust Corp now owns 136,995 shares of the company’s stock worth $22,886,000 after buying an additional 44,044 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PAG. Morgan Stanley raised their price objective on 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 price objective on 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 given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Hold” and a consensus target price of $163.20.

Insider Activity

In related news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction dated 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 of the company’s stock, valued at $7,618,529.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction dated 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 of the company’s stock, valued at $7,618,529.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now directly owns 716 shares in the company, valued at $110,299.80. The disclosure for this sale can be found here. Corporate insiders own 52.20% of the company’s stock.

Penske Automotive Group Price Performance

Shares of PAG opened at $149.02 on Thursday. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 9.63 and a beta of 1.19. 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 stock’s fifty day moving average is $153.21 and its 200-day moving average is $153.04.

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

About Penske Automotive Group

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.