134,979 Shares in Asbury Automotive Group, Inc. $ABG Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 134,979 shares of the company's stock, valued at approximately $27,142,000. Bank of New York Mellon Corp owned approximately 0.75% of Asbury Automotive Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Asbury Automotive Group by 11.0% during the 1st quarter. AQR Capital Management LLC now owns 6,263 shares of the company's stock worth $1,383,000 after purchasing an additional 619 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Asbury Automotive Group by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company's stock valued at $61,561,000 after acquiring an additional 91,767 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Asbury Automotive Group in the 1st quarter valued at $265,000. Empowered Funds LLC lifted its stake in shares of Asbury Automotive Group by 11.4% in the 1st quarter. Empowered Funds LLC now owns 7,639 shares of the company's stock valued at $1,687,000 after purchasing an additional 783 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Asbury Automotive Group by 3.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company's stock worth $11,316,000 after purchasing an additional 1,676 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $212.40 on Friday. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. The stock's 50-day moving average is $214.02 and its 200-day moving average is $205.62. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $262.67. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the company earned $7.43 earnings per share. Asbury Automotive Group's quarterly revenue was up .3% on a year-over-year basis. Equities analysts predict that Asbury Automotive Group, Inc. will post 26.43 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the sale, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. This trade represents a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABG. UBS Group set a $250.00 price objective on Asbury Automotive Group in a research note on Wednesday, July 29th. Morgan Stanley raised their target price on Asbury Automotive Group from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Weiss Ratings restated a "hold (c-)" rating on shares of Asbury Automotive Group in a research report on Friday, July 24th. Barclays upped their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Finally, Stephens reissued an "overweight" rating and set a $242.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $246.71.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc NYSE: ABG is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.

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