SG Americas Securities LLC Sells 642 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

SG Americas Securities LLC decreased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 47.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 710 shares of the company’s stock after selling 642 shares during the quarter. SG Americas Securities LLC’s holdings in Penske Automotive Group were worth $114,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC bought a new position in Penske Automotive Group in the fourth quarter valued at about $260,702,000. BlackRock Inc. lifted its holdings in Penske Automotive Group by 4.6% in the third quarter. BlackRock Inc. now owns 1,404,836 shares of the company’s stock valued at $138,279,000 after acquiring an additional 61,972 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Penske Automotive Group by 24.7% in the second quarter. Goldman Sachs Group Inc. now owns 827,445 shares of the company’s stock valued at $86,625,000 after acquiring an additional 164,060 shares during the period. Bank of America Corp DE raised its stake in shares of Penske Automotive Group by 0.6% in the first quarter. Bank of America Corp DE now owns 665,868 shares of the company’s stock worth $94,427,000 after buying an additional 3,745 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Penske Automotive Group by 3,459.1% in the first quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock worth $1,783,000 after buying an additional 601,536 shares during the period. Institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $163.20.

Penske Automotive Group Stock Down 1.0 %

Shares of PAG opened at $147.47 on Friday. The business’s 50 day moving average is $153.20 and its 200 day moving average is $153.00. The company has a market capitalization of $9.89 billion, a PE ratio of 9.53 and a beta of 1.19. Penske Automotive Group, Inc. has a 12-month low of $133.72 and a 12-month high of $180.84. The company has a current ratio of 1.00, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30.

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

Insider Activity at Penske Automotive Group

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

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.