Illinois Municipal Retirement Fund Has $3.91 Million Stock Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Illinois Municipal Retirement Fund decreased its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,332 shares of the company’s stock after selling 3,137 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Penske Automotive Group were worth $3,906,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Duality Advisers LP acquired a new stake in Penske Automotive Group during the 4th quarter valued at $352,000. Xponance Inc. increased its position in Penske Automotive Group by 8.4% during the 4th quarter. Xponance Inc. now owns 3,022 shares of the company’s stock worth $485,000 after buying an additional 234 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Penske Automotive Group by 9.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,295 shares of the company’s stock worth $689,000 after buying an additional 359 shares during the period. Cookson Peirce & Co. Inc. increased its position in Penske Automotive Group by 23.7% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,009 shares of the company’s stock worth $322,000 after buying an additional 385 shares during the period. Finally, Strs Ohio increased its position in Penske Automotive Group by 18.5% during the 4th quarter. Strs Ohio now owns 13,314 shares of the company’s stock worth $2,137,000 after buying an additional 2,079 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley increased their price objective 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 raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $163.20.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $153.24 on Thursday. The stock’s 50-day simple moving average is $153.02 and its 200 day simple moving average is $152.79. The firm has a market capitalization of $10.27 billion, a PE ratio of 9.90 and a beta of 1.19. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Penske Automotive Group, Inc. has a twelve month low of $133.72 and a twelve month high of $180.84.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.18 billion. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. Penske Automotive Group’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.21 earnings per share. On average, analysts anticipate that Penske Automotive Group, Inc. will post 13.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now directly owns 716 shares of the company’s stock, valued at $110,299.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Penske Automotive Group news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 in the company, valued at $110,299.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $239,605.52. Following the completion of the sale, the director now owns 51,001 shares of the company’s stock, valued at $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 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.