Sheaff Brock Investment Advisors LLC cut its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,390 shares of the company’s stock after selling 5,749 shares during the quarter. Penske Automotive Group makes up approximately 1.0% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 16th largest holding. Sheaff Brock Investment Advisors LLC’s holdings in Penske Automotive Group were worth $10,590,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its position in shares of Penske Automotive Group by 3.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock worth $370,000 after acquiring an additional 70 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Penske Automotive Group by 0.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 58,298 shares of the company’s stock worth $9,739,000 after acquiring an additional 285 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Penske Automotive Group in the 3rd quarter worth approximately $218,000. Swiss National Bank grew its position in shares of Penske Automotive Group by 0.9% in the 3rd quarter. Swiss National Bank now owns 45,500 shares of the company’s stock worth $7,601,000 after acquiring an additional 400 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Penske Automotive Group by 403.8% in the 3rd quarter. Amalgamated Bank now owns 15,199 shares of the company’s stock worth $2,539,000 after acquiring an additional 12,182 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Penske Automotive Group Stock Up 0.5 %
NYSE:PAG traded up $0.75 during trading hours on Tuesday, hitting $150.36. 75,008 shares of the company’s stock traded hands, compared to its average volume of 173,941. The firm has a market cap of $10.11 billion, a P/E ratio of 8.93, a P/E/G ratio of 3.12 and a beta of 1.19. Penske Automotive Group, Inc. has a twelve month low of $128.37 and a twelve month high of $180.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 1.01. The stock’s fifty day moving average price is $154.42 and its two-hundred day moving average price is $157.49.
Penske Automotive Group Increases Dividend
Insider Buying and Selling at Penske Automotive Group
In other Penske Automotive Group news, Director Sandra E. Pierce sold 8,750 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $151.62, for a total value of $1,326,675.00. Following the transaction, the director now owns 20,500 shares in the company, valued at $3,108,210. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 51.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on PAG shares. Benchmark restated a “buy” rating and set a $196.00 price objective on shares of Penske Automotive Group in a research report on Thursday, October 26th. JPMorgan Chase & Co. reduced their price objective on Penske Automotive Group from $145.00 to $140.00 and set an “underweight” rating for the company in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.60.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships in the United States and internationally. 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.
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