California State Teachers Retirement System Has $2.83 Million Stake in Penske Automotive Group, Inc. (PAG)

California State Teachers Retirement System decreased its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 9.3% during the 3rd quarter, Holdings Channel reports. The firm owned 59,516 shares of the company’s stock after selling 6,115 shares during the period. California State Teachers Retirement System’s holdings in Penske Automotive Group were worth $2,831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Penske Automotive Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock worth $110,000 after purchasing an additional 175 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Penske Automotive Group during the 3rd quarter worth $199,000. Oppenheimer & Co. Inc. acquired a new position in shares of Penske Automotive Group during the 2nd quarter worth $206,000. Stephens Inc. AR acquired a new position in shares of Penske Automotive Group during the 3rd quarter worth $230,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Penske Automotive Group during the 3rd quarter worth $252,000. Institutional investors own 41.40% of the company’s stock.

Penske Automotive Group, Inc. (PAG) opened at $52.26 on Friday. Penske Automotive Group, Inc. has a 12 month low of $38.33 and a 12 month high of $55.26. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.03. The stock has a market cap of $4,480.00, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.68 and a beta of 1.46.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, October 25th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. Penske Automotive Group had a net margin of 1.75% and a return on equity of 18.68%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period last year, the business posted $1.03 EPS. Penske Automotive Group’s revenue was up 7.2% compared to the same quarter last year. equities analysts anticipate that Penske Automotive Group, Inc. will post 4.3 earnings per share for the current fiscal year.

Penske Automotive Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In related news, EVP Shane M. Spradlin sold 3,188 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $47.41, for a total value of $151,143.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John D. Jr. Carlson sold 7,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.20, for a total transaction of $323,400.00. Following the completion of the transaction, the chief financial officer now owns 24,844 shares in the company, valued at $1,147,792.80. The disclosure for this sale can be found here. Company insiders own 40.70% of the company’s stock.

Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Tuesday. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Gabelli increased their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Penske Automotive Group in a research note on Wednesday, October 4th. Finally, Berenberg Bank began coverage on shares of Penske Automotive Group in a research note on Wednesday, October 4th. They issued a “hold” rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.14.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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