Canada Pension Plan Investment Board Acquires Shares of 5,100 Asbury Automotive Group, Inc. $ABG

Canada Pension Plan Investment Board bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,100 shares of the company's stock, valued at approximately $1,026,000.

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

Asbury Automotive Group Stock Down 0.2%

Asbury Automotive Group stock opened at $211.11 on Tuesday. The firm has a market cap of $3.79 billion, a PE ratio of 7.89, a P/E/G ratio of 0.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. The firm's 50 day moving average price is $214.31 and its two-hundred day moving average price is $205.37. Asbury Automotive Group, Inc. has a twelve month low of $172.01 and a twelve month high of $262.67.

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

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on ABG shares. UBS Group set a $250.00 target price on shares of Asbury Automotive Group in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on Asbury Automotive Group from $220.00 to $190.00 and set an "underweight" rating for the company in a research report on Tuesday, August 4th. Stephens reiterated an "overweight" rating and set a $242.00 price target on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Finally, Citigroup raised their price objective on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Asbury Automotive Group presently has an average rating of "Hold" and a consensus target price of $246.71.

About Asbury Automotive Group

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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