Ameriprise Financial Inc. Reduces Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Ameriprise Financial Inc. trimmed its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,997 shares of the company's stock after selling 2,533 shares during the period. Ameriprise Financial Inc. owned about 0.31% of Asbury Automotive Group worth $14,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Asbury Automotive Group during the 4th quarter worth about $25,000. CIBC Private Wealth Group LLC grew its holdings in Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after acquiring an additional 41 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock worth $122,000 after acquiring an additional 351 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after buying an additional 443 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Asbury Automotive Group by 801.4% in the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after buying an additional 561 shares in the last quarter.

Asbury Automotive Group Trading Down 0.6%

ABG traded down $1.35 on Friday, hitting $225.27. The company had a trading volume of 137,740 shares, compared to its average volume of 201,785. The firm has a market cap of $4.43 billion, a P/E ratio of 10.47 and a beta of 0.98. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company's fifty day moving average price is $225.22 and its 200 day moving average price is $248.90. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The firm had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.21 earnings per share. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABG shares. Citigroup started coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price target on the stock. Stephens raised their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Finally, Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $258.50.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.