Penske Automotive Group, Inc. (NYSE:PAG) Position Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 11.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,332 shares of the company’s stock after selling 3,137 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Penske Automotive Group were worth $3,906,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PAG. Vanguard Personalized Indexing Management LLC lifted its position in Penske Automotive Group by 3.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock valued at $370,000 after purchasing an additional 70 shares during the last quarter. Arizona State Retirement System increased its stake in Penske Automotive Group by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 5,893 shares of the company’s stock valued at $984,000 after buying an additional 73 shares during the period. SkyOak Wealth LLC increased its stake in Penske Automotive Group by 3.2% during the 4th quarter. SkyOak Wealth LLC now owns 2,550 shares of the company’s stock valued at $409,000 after buying an additional 80 shares during the period. Venturi Wealth Management LLC increased its stake in Penske Automotive Group by 113.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Finally, Quent Capital LLC increased its stake in Penske Automotive Group by 5.5% during the 4th quarter. Quent Capital LLC now owns 1,830 shares of the company’s stock valued at $294,000 after buying an additional 96 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Performance

Shares of PAG opened at $153.24 on Thursday. Penske Automotive Group, Inc. has a 12-month low of $133.72 and a 12-month high of $180.84. The firm’s 50 day moving average is $153.02 and its 200-day moving average is $152.79. The stock has a market capitalization of $10.27 billion, a P/E ratio of 9.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.21). Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. During the same quarter in the previous year, the business earned $4.21 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Analyst Ratings Changes

PAG has been the topic of several research analyst reports. Bank of America raised their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley raised their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group has an average rating of “Hold” and an average target price of $163.20.

Insiders Place Their Bets

In related news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares in the company, valued at $7,618,529.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, 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 transaction of $246,480.00. Following the completion of the sale, the director now directly owns 716 shares in the company, valued at $110,299.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

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.