Alaska Permanent Fund Corp Boosts Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Alaska Permanent Fund Corp increased its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,675 shares of the company’s stock after acquiring an additional 75 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Penske Automotive Group were worth $2,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Penske Automotive Group in the third quarter valued at approximately $1,257,000. Tudor Investment Corp Et Al boosted its stake in Penske Automotive Group by 29.9% during the third quarter. Tudor Investment Corp Et Al now owns 69,253 shares of the company’s stock valued at $11,569,000 after buying an additional 15,946 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Penske Automotive Group by 306.3% in the 3rd quarter. Hsbc Holdings PLC now owns 25,785 shares of the company’s stock worth $4,331,000 after acquiring an additional 19,438 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Penske Automotive Group by 164.3% during the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after acquiring an additional 181,995 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Penske Automotive Group by 47.4% in the 3rd quarter. Northern Trust Corp now owns 136,995 shares of the company’s stock worth $22,886,000 after acquiring an additional 44,044 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PAG. Morgan Stanley lifted their target price on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a 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 report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $163.20.

Insider Buying and Selling

In other news, Director Greg C. Smith sold 1,604 shares of the 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 transaction, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 directly owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group 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 approximately $7,618,529.38. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock traded down $2.12 during trading hours on Thursday, reaching $151.06. The company’s stock had a trading volume of 12,020 shares, compared to its average volume of 195,800. The firm has a 50 day moving average price of $153.08 and a 200-day moving average price of $152.79. Penske Automotive Group, Inc. has a one year low of $133.72 and a one year high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25. The stock has a market cap of $10.13 billion, a P/E ratio of 9.90 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last issued 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 net margin of 3.57% and a return on equity of 24.19%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same quarter in the previous year, the company posted $4.21 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that Penske Automotive Group, Inc. will post 13.8 EPS for the current year.

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.