LSV Asset Management Sells 90,635 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

LSV Asset Management reduced its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,275,699 shares of the company’s stock after selling 90,635 shares during the period. LSV Asset Management owned about 1.90% of Penske Automotive Group worth $204,762,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PAG. Invesco Ltd. boosted its stake in shares of Penske Automotive Group by 164.3% in the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after purchasing an additional 181,995 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Penske Automotive Group by 43.3% in the third quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock worth $48,423,000 after purchasing an additional 87,590 shares during the last quarter. Principal Financial Group Inc. boosted its position in Penske Automotive Group by 4,712.6% during the third quarter. Principal Financial Group Inc. now owns 72,044 shares of the company’s stock valued at $12,036,000 after buying an additional 70,547 shares during the period. International Assets Investment Management LLC grew its stake in shares of Penske Automotive Group by 15,960.7% during the fourth quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after buying an additional 66,556 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Penske Automotive Group by 206.5% in the third quarter. Qube Research & Technologies Ltd now owns 73,531 shares of the company’s stock worth $12,284,000 after buying an additional 49,544 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PAG shares. Morgan Stanley raised their price target on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Bank of America increased their price objective 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Penske Automotive Group has an average rating of “Hold” and a consensus target price of $163.20.

Insider Buying and Selling at Penske Automotive Group

In other 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 value of $246,480.00. Following the completion of the sale, the director now directly 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 is available at the SEC website. 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 stock was 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 of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Barr sold 1,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Penske Automotive Group Trading Up 0.6 %

NYSE:PAG traded up $0.94 during mid-day trading on Friday, reaching $153.44. 203,347 shares of the company’s stock traded hands, compared to its average volume of 227,661. Penske Automotive Group, Inc. has a 12-month low of $133.72 and a 12-month high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.25. The company has a 50 day moving average price of $153.72 and a 200-day moving average price of $152.83. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.67 and a beta of 1.21.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($0.14). Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period last year, the firm posted $4.31 earnings per share. Penske Automotive Group’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts predict that Penske Automotive Group, Inc. will post 13.8 earnings per share for the current year.

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.