California Public Employees Retirement System Sells 555 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

California Public Employees Retirement System trimmed its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,906 shares of the company’s stock after selling 555 shares during the quarter. California Public Employees Retirement System owned 0.06% of Penske Automotive Group worth $6,566,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Penske Automotive Group by 164.3% in the third quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock worth $48,908,000 after purchasing an additional 181,995 shares during the last quarter. Bank of New York Mellon Corp raised its position in Penske Automotive Group by 43.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock worth $48,423,000 after buying an additional 87,590 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Penske Automotive Group by 4,712.6% during the 3rd quarter. Principal Financial Group Inc. now owns 72,044 shares of the company’s stock valued at $12,036,000 after acquiring an additional 70,547 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Penske Automotive Group by 15,960.7% during the 4th quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after acquiring an additional 66,556 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Penske Automotive Group by 206.5% in the third quarter. Qube Research & Technologies Ltd now owns 73,531 shares of the company’s stock worth $12,284,000 after acquiring an additional 49,544 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PAG. 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 report on Wednesday, April 10th. Morgan Stanley raised 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 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.

Penske Automotive Group Stock Up 0.6 %

Shares of PAG stock opened at $153.44 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.25. Penske Automotive Group, Inc. has a one year low of $133.72 and a one year high of $180.84. The company’s fifty day moving average price is $153.72 and its 200-day moving average price is $152.83. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.67 and a beta of 1.21.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the business earned $4.31 earnings per share. Penske Automotive Group’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts expect that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 1,600 shares of the company’s stock in a transaction on 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 owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group 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 sale, the director now owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of the 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 $110,299.80. The disclosure for this sale can be found here. Insiders own 51.70% 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.