Nisa Investment Advisors LLC Increases Holdings in Penske Automotive Group, Inc. (NYSE:PAG)

Nisa Investment Advisors LLC grew its position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,916 shares of the company's stock after buying an additional 4,000 shares during the quarter. Nisa Investment Advisors LLC's holdings in Penske Automotive Group were worth $3,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its holdings in Penske Automotive Group by 14.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,773 shares of the company's stock worth $562,000 after buying an additional 462 shares in the last quarter. AE Wealth Management LLC purchased a new position in Penske Automotive Group in the second quarter valued at $338,000. Sei Investments Co. grew its stake in Penske Automotive Group by 11.4% during the 2nd quarter. Sei Investments Co. now owns 49,975 shares of the company's stock worth $7,449,000 after purchasing an additional 5,098 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Penske Automotive Group by 7.6% in the 2nd quarter. Bank of Montreal Can now owns 3,662 shares of the company's stock valued at $553,000 after buying an additional 258 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Penske Automotive Group during the second quarter worth about $313,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Benchmark began coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of "Hold" and an average price target of $170.25.

Penske Automotive Group Stock Performance

NYSE:PAG traded down $1.28 during mid-day trading on Friday, reaching $161.07. 119,334 shares of the stock were exchanged, compared to its average volume of 132,767. 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 1 year low of $142.32 and a 1 year high of $179.72. The company has a 50 day simple moving average of $159.57 and a 200-day simple moving average of $159.43. The stock has a market capitalization of $10.75 billion, a P/E ratio of 12.34 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.67 billion. During the same quarter in the prior year, the company earned $3.90 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Penske Automotive Group, Inc. will post 13.53 earnings per share for the current fiscal year.

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.