Legal & General Group Plc purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 44,179 shares of the company's stock, valued at approximately $8,884,000. Legal & General Group Plc owned 0.25% of Asbury Automotive Group as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Asbury Automotive Group during the second quarter valued at about $593,499,000. Dimensional Fund Advisors LP increased its position in shares of Asbury Automotive Group by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company's stock worth $225,977,000 after acquiring an additional 34,104 shares in the last quarter. State Street Corp raised its holdings in shares of Asbury Automotive Group by 1.2% during the fourth quarter. State Street Corp now owns 781,228 shares of the company's stock valued at $181,659,000 after acquiring an additional 9,535 shares during the period. Norges Bank acquired a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $77,963,000. Finally, Madison Asset Management LLC acquired a new stake in shares of Asbury Automotive Group during the second quarter valued at approximately $60,592,000.
Asbury Automotive Group Trading Down 1.0%
NYSE ABG opened at $209.19 on Wednesday. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $262.67. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $3.75 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. The firm's fifty day simple moving average is $214.49 and its 200-day simple moving average is $205.21.
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 for the quarter, topping the consensus estimate 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 company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $7.43 EPS. The business's revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.43 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Barclays raised their price objective on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 29th. UBS Group set a $250.00 target price on Asbury Automotive Group in a report on Wednesday, July 29th. Stephens reaffirmed an "overweight" rating and issued a $242.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Citigroup upped their price target on Asbury Automotive Group from $212.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Asbury Automotive Group in a research report on Friday, July 24th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of "Hold" and an average price target of $246.71.
Check Out Our Latest Stock Analysis on ABG
Insider Buying and Selling
In related news, SVP Jed Milstein sold 948 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the transaction, the senior vice president owned 11,259 shares in the company, valued at approximately $2,817,902.52. This represents a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company's stock.
About Asbury Automotive Group
(
Free Report)
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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