Blue Chip Partners LLC Purchases 7,500 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Blue Chip Partners LLC lifted its position in Penske Automotive Group, Inc. (NYSE:PAG) by 259.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,396 shares of the company’s stock after buying an additional 7,500 shares during the quarter. Blue Chip Partners LLC’s holdings in Penske Automotive Group were worth $1,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Penske Automotive Group by 3.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock valued at $370,000 after buying an additional 70 shares in the last quarter. Arizona State Retirement System lifted its holdings 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 purchasing an additional 73 shares during the last quarter. Alaska Permanent Fund Corp lifted its holdings in shares of Penske Automotive Group by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock worth $2,516,000 after buying an additional 75 shares in the last quarter. SkyOak Wealth LLC lifted its holdings in shares of Penske Automotive Group by 3.2% during the fourth quarter. SkyOak Wealth LLC now owns 2,550 shares of the company’s stock worth $409,000 after buying an additional 80 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of 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 buying an additional 92 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PAG. Bank of America boosted their price target on 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 boosted their price target on 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 assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $163.20.

Penske Automotive Group Stock Up 1.4 %

PAG stock opened at $155.63 on Monday. Penske Automotive Group, Inc. has a 52 week low of $133.72 and a 52 week high of $180.84. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $153.25 and a 200 day simple moving average of $152.73. The company has a market cap of $10.43 billion, a PE ratio of 10.05 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last released its 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 net margin of 3.57% and a return on equity of 24.19%. 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 prior year, the firm earned $4.21 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Insider Transactions at Penske Automotive Group

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