Manning & Napier Advisors LLC Lowers Position in Penske Automotive Group, Inc. (NYSE:PAG)

Manning & Napier Advisors LLC lessened its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 35.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,026 shares of the company’s stock after selling 6,065 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Penske Automotive Group were worth $1,681,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PAG. International Assets Investment Management LLC lifted its holdings in shares of Penske Automotive Group by 12,674.5% in the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock worth $9,606,000 after buying an additional 58,683 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Penske Automotive Group by 62.8% in the third quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the company’s stock worth $4,743,000 after purchasing an additional 11,267 shares during the last quarter. Victory Capital Management Inc. increased its position in Penske Automotive Group by 296.3% in the third quarter. Victory Capital Management Inc. now owns 14,913 shares of the company’s stock worth $2,422,000 after purchasing an additional 11,150 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Penske Automotive Group in the third quarter worth $1,805,000. Finally, Janus Henderson Group PLC increased its position in Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after purchasing an additional 10,663 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 2.2 %

PAG stock opened at $168.57 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group, Inc. has a twelve month low of $142.32 and a twelve month high of $179.72. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 12.92 and a beta of 1.20. The firm’s fifty day simple moving average is $160.08 and its two-hundred day simple moving average is $159.69.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.90 earnings per share. As a group, analysts anticipate that Penske Automotive Group, Inc. will post 13.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.25.

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.