Federated Hermes Inc. Has $338,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Federated Hermes Inc. cut its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,106 shares of the company’s stock after selling 275 shares during the quarter. Federated Hermes Inc.’s holdings in Penske Automotive Group were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PAG. Invesco Ltd. raised its stake in shares of Penske Automotive Group by 164.3% during the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock worth $48,908,000 after purchasing an additional 181,995 shares in the last quarter. Bank of New York Mellon Corp grew its position in Penske Automotive Group by 43.3% in the third quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock worth $48,423,000 after acquiring an additional 87,590 shares in the last quarter. Northern Trust Corp increased its stake in shares of Penske Automotive Group by 47.4% during the 3rd quarter. Northern Trust Corp now owns 136,995 shares of the company’s stock worth $22,886,000 after purchasing an additional 44,044 shares during the last quarter. UBS Group AG lifted its stake in shares of Penske Automotive Group by 127.5% in the 3rd quarter. UBS Group AG now owns 84,740 shares of the company’s stock valued at $14,157,000 after purchasing an additional 47,488 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Penske Automotive Group by 106.2% in the third quarter. Barclays PLC now owns 84,554 shares of the company’s stock worth $14,126,000 after purchasing an additional 43,550 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Penske Automotive Group

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

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $153.44 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $153.72 and a 200 day moving average price of $152.83. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 10.67 and a beta of 1.21. Penske Automotive Group, Inc. has a twelve month low of $133.72 and a twelve month high of $180.84.

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

Analysts Set New Price Targets

PAG has been the topic of several recent research reports. Morgan Stanley raised their target price on 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 boosted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $163.20.

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.