Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its position in Penske Automotive Group, Inc. (NYSE:PAG) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,416 shares of the company’s stock after selling 700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Penske Automotive Group were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its stake in shares of Penske Automotive Group by 6.0% in the third quarter. AE Wealth Management LLC now owns 2,475 shares of the company’s stock worth $413,000 after acquiring an additional 139 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Penske Automotive Group in the 3rd quarter valued at approximately $226,000. State of Alaska Department of Revenue acquired a new stake in shares of Penske Automotive Group during the third quarter worth approximately $390,000. Exchange Traded Concepts LLC grew its position in shares of Penske Automotive Group by 155.3% during the third quarter. Exchange Traded Concepts LLC now owns 457 shares of the company’s stock worth $76,000 after buying an additional 278 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Penske Automotive Group by 5.3% in the third quarter. Commonwealth Equity Services LLC now owns 4,471 shares of the company’s stock worth $747,000 after buying an additional 224 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America raised their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their price target 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $163.20.

Penske Automotive Group Trading Down 0.2 %

Penske Automotive Group stock opened at $155.38 on Tuesday. 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 1 year low of $133.72 and a 1 year high of $180.84. The firm’s 50-day moving average is $153.37 and its 200-day moving average is $152.77. The company has a market cap of $10.42 billion, a P/E ratio of 10.04 and a beta of 1.19.

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 analysts’ consensus estimates of $3.66 by ($0.21). The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.18 billion. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.21 EPS. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current year.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the stock in a transaction 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 directly owns 716 shares of the company’s stock, valued at $110,299.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the completion of the transaction, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction 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 sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. Insiders own 52.20% of the company’s stock.

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.