Penske Automotive Group, Inc. $PAG Shares Sold by Strs Ohio

Strs Ohio lowered its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 96.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 437 shares of the company’s stock after selling 10,993 shares during the quarter. Strs Ohio’s holdings in Penske Automotive Group were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Burgundy Asset Management Ltd. raised its position in Penske Automotive Group by 3.1% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 890,356 shares of the company’s stock valued at $152,972,000 after purchasing an additional 26,827 shares in the last quarter. AQR Capital Management LLC raised its holdings in Penske Automotive Group by 21.1% in the second quarter. AQR Capital Management LLC now owns 681,741 shares of the company’s stock valued at $116,953,000 after acquiring an additional 118,976 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Penske Automotive Group by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after acquiring an additional 84,045 shares in the last quarter. Norges Bank purchased a new position in Penske Automotive Group in the second quarter worth approximately $32,425,000. Finally, Moran Wealth Management LLC increased its position in shares of Penske Automotive Group by 0.7% in the 3rd quarter. Moran Wealth Management LLC now owns 152,898 shares of the company’s stock valued at $26,590,000 after purchasing an additional 988 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $160.17, for a total transaction of $336,357.00. Following the completion of the transaction, the chief financial officer owned 16,822 shares in the company, valued at approximately $2,694,379.74. This represents a 11.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st. Bank of America started coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price objective for the company. Barclays cut their target price on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Penske Automotive Group has an average rating of “Moderate Buy” and a consensus target price of $183.71.

Penske Automotive Group Stock Up 4.2%

Penske Automotive Group stock opened at $165.41 on Thursday. The stock has a 50 day moving average of $163.40 and a two-hundred day moving average of $169.03. Penske Automotive Group, Inc. has a twelve month low of $134.05 and a twelve month high of $189.51. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.18 and a beta of 0.92. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22.

Penske Automotive Group Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.