Strs Ohio Lowers Stake in Penske Automotive Group, Inc. $PAG

Strs Ohio lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 96.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 437 shares of the company’s stock after selling 10,993 shares during the period. Strs Ohio’s holdings in Penske Automotive Group were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of Penske Automotive Group stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $160.17, for a total value of $336,357.00. Following the completion of the transaction, the chief financial officer directly owned 16,822 shares of the company’s stock, valued at $2,694,379.74. The trade was a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 51.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PAG. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. JPMorgan Chase & Co. cut their price objective on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Bank of America assumed coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target for the company. Finally, Barclays decreased their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.71.

Penske Automotive Group Stock Up 4.2%

Penske Automotive Group stock opened at $165.41 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.21 and a current ratio of 0.97. The firm has a 50 day moving average price of $163.40 and a 200 day moving average price of $169.03. Penske Automotive Group, Inc. has a fifty-two week low of $134.05 and a fifty-two week high of $189.51. The company has a market capitalization of $10.89 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92.

Penske Automotive Group Company 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.