NFJ Investment Group LLC Has $2.41 Million Stake in Asbury Automotive Group, Inc. $ABG

Key Points

• NFJ Investment Group LLC has reduced its stake in Asbury Automotive Group by 17.7%, now holding approximately 10,898 shares valued at $2.4 million after selling 2,339 shares in the first quarter.
• Price targets for ABG shares have been adjusted by several analysts, with Bank of America increasing theirs to $335.00 and Stephens lifting it to $277.00, indicating an overall positive sentiment on the stock.
• Asbury Automotive Group reported $7.43 earnings per share in its latest quarterly results, surpassing analyst expectations of $6.82, while revenue rose 3% year-over-year to $4.37 billion.

NFJ Investment Group LLC trimmed its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 17.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,898 shares of the company's stock after selling 2,339 shares during the period. NFJ Investment Group LLC owned approximately 0.06% of Asbury Automotive Group worth $2,407,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after purchasing an additional 50 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Asbury Automotive Group in the first quarter worth approximately $49,000. GAMMA Investing LLC lifted its position in shares of Asbury Automotive Group by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock valued at $129,000 after acquiring an additional 165 shares during the last quarter. CWM LLC lifted its position in shares of Asbury Automotive Group by 7.5% during the 1st quarter. CWM LLC now owns 858 shares of the company's stock valued at $189,000 after acquiring an additional 60 shares during the last quarter. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the 1st quarter valued at $197,000.

Asbury Automotive Group Stock Up 1.8%

Shares of NYSE ABG traded up $4.51 during mid-day trading on Thursday, reaching $251.52. The company had a trading volume of 36,451 shares, compared to its average volume of 197,345. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. The stock has a market capitalization of $4.94 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89. The stock's 50 day moving average is $243.23 and its 200-day moving average is $236.97.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, topping analysts' consensus estimates of $6.82 by $0.61. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the business posted $6.40 earnings per share. Asbury Automotive Group's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research report on Tuesday, August 5th. Cfra set a $225.00 price objective on Asbury Automotive Group in a research report on Tuesday, July 29th. Stephens upgraded Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $225.00 to $277.00 in a research report on Wednesday, August 13th. Bank of America cut their price objective on Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Asbury Automotive Group currently has an average rating of "Hold" and a consensus price target of $249.00.

Insider Activity at Asbury Automotive Group

In other news, SVP Jed Milstein sold 1,132 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total value of $286,690.32. Following the transaction, the senior vice president directly owned 11,267 shares of the company's stock, valued at approximately $2,853,480.42. This represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maureen F. Morrison sold 800 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $255.61, for a total transaction of $204,488.00. Following the completion of the transaction, the director directly owned 5,824 shares in the company, valued at $1,488,672.64. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,957 shares of company stock valued at $745,501. 0.59% of the stock is owned by insiders.

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.