Penske Automotive Group, Inc. (NYSE:PAG) Shares Acquired by Blue Chip Partners LLC

Blue Chip Partners LLC increased its position in Penske Automotive Group, Inc. (NYSE:PAG) by 259.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,396 shares of the company’s stock after buying an additional 7,500 shares during the period. Blue Chip Partners LLC’s holdings in Penske Automotive Group were worth $1,669,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PAG. Venturi Wealth Management LLC increased its position in Penske Automotive Group by 113.6% during the third quarter. Venturi Wealth Management LLC now owns 173 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in Penske Automotive Group during the third quarter worth approximately $35,000. Grove Bank & Trust boosted its stake in shares of Penske Automotive Group by 100.0% in the third quarter. Grove Bank & Trust now owns 250 shares of the company’s stock valued at $42,000 after purchasing an additional 125 shares during the period. Blue Trust Inc. boosted its stake in shares of Penske Automotive Group by 91.2% in the fourth quarter. Blue Trust Inc. now owns 346 shares of the company’s stock valued at $58,000 after purchasing an additional 165 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Penske Automotive Group by 155.3% in the third quarter. Exchange Traded Concepts LLC now owns 457 shares of the company’s stock valued at $76,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the transaction, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 51,001 shares in the company, valued at approximately $7,618,529.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Barr sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the transaction, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The disclosure for this sale can be found here. 52.20% of the stock is owned by corporate insiders.

Penske Automotive Group Trading Up 1.4 %

Penske Automotive Group stock opened at $155.63 on Monday. The firm’s 50-day moving average is $153.25 and its 200-day moving average is $152.73. 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 company has a market cap of $10.43 billion, a P/E ratio of 10.05 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last posted its quarterly 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). Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same quarter in the previous year, the business posted $4.21 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PAG. Morgan Stanley upped 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. Bank of America increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Penske Automotive Group has a consensus rating of “Hold” and a consensus price target of $163.20.

Penske Automotive Group 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.