Nuveen Asset Management LLC Reduces Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Nuveen Asset Management LLC cut its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,569 shares of the company's stock after selling 3,622 shares during the period. Nuveen Asset Management LLC owned approximately 0.27% of Asbury Automotive Group worth $12,776,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in Asbury Automotive Group by 108.4% in the fourth quarter. Millennium Management LLC now owns 20,087 shares of the company's stock worth $4,882,000 after purchasing an additional 10,448 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Asbury Automotive Group by 9.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,026 shares of the company's stock worth $5,353,000 after purchasing an additional 1,989 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Asbury Automotive Group by 42.1% in the fourth quarter. Lazard Asset Management LLC now owns 4,055 shares of the company's stock worth $985,000 after purchasing an additional 1,201 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Asbury Automotive Group by 4.9% in the fourth quarter. Janus Henderson Group PLC now owns 10,858 shares of the company's stock worth $2,640,000 after purchasing an additional 506 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Asbury Automotive Group by 57.7% in the fourth quarter. Deutsche Bank AG now owns 18,708 shares of the company's stock worth $4,547,000 after purchasing an additional 6,842 shares during the last quarter.

Asbury Automotive Group Trading Up 0.9%

Shares of NYSE ABG traded up $1.93 during midday trading on Friday, hitting $228.18. 116,325 shares of the company traded hands, compared to its average volume of 201,900. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The stock has a 50-day moving average price of $224.29 and a 200 day moving average price of $247.64. The firm has a market cap of $4.49 billion, a P/E ratio of 10.61 and a beta of 0.98.

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

Analysts Set New Price Targets

Several research firms have weighed in on ABG. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Stephens upped their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Bank of America started coverage on shares of Asbury Automotive Group in a research note on Wednesday. They set a "buy" rating and a $325.00 price objective for the company. Finally, Citigroup started coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Asbury Automotive Group has a consensus rating of "Hold" and an average target price of $261.83.

About Asbury Automotive Group

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.