Penske Automotive Group, Inc. (NYSE:PAG) Position Lowered by HB Wealth Management LLC

HB Wealth Management LLC lowered its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,387 shares of the company’s stock after selling 261 shares during the quarter. HB Wealth Management LLC’s holdings in Penske Automotive Group were worth $1,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAG. Mercer Global Advisors Inc. ADV increased its holdings in shares of Penske Automotive Group by 14.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,773 shares of the company’s stock valued at $562,000 after acquiring an additional 462 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Penske Automotive Group by 55.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,121 shares of the company’s stock worth $588,000 after purchasing an additional 1,477 shares during the period. Hsbc Holdings PLC increased its stake in Penske Automotive Group by 62.4% during the second quarter. Hsbc Holdings PLC now owns 28,035 shares of the company’s stock valued at $4,163,000 after purchasing an additional 10,774 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Penske Automotive Group during the second quarter worth $709,000. Finally, AE Wealth Management LLC bought a new position in shares of Penske Automotive Group in the 2nd quarter worth about $338,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Penske Automotive Group presently has a consensus rating of “Hold” and an average price target of $170.25.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $160.12 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $159.53 and its two-hundred day moving average is $158.96. The firm has a market capitalization of $10.69 billion, a P/E ratio of 12.27 and a beta of 1.20. Penske Automotive Group, Inc. has a 52 week low of $142.32 and a 52 week high of $179.72.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the previous year, the firm earned $3.90 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts anticipate that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current year.

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.