Asbury Automotive Group, Inc. (NYSE:ABG) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,544 shares of the company's stock after purchasing an additional 2,549 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Asbury Automotive Group worth $21,542,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in Asbury Automotive Group during the fourth quarter worth approximately $25,000. Versant Capital Management Inc raised its stake in shares of Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after acquiring an additional 50 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after acquiring an additional 41 shares during the period. GAMMA Investing LLC raised its stake in shares of Asbury Automotive Group by 39.2% in 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 period. Finally, Headlands Technologies LLC raised its stake 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 acquiring an additional 443 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABG. 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. Citigroup began coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 target price on the stock. Bank of America raised their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $263.50.

Asbury Automotive Group Stock Down 1.2%

ABG traded down $3.22 during trading hours on Friday, reaching $262.75. 92,103 shares of the stock traded hands, compared to its average volume of 197,947. The firm's fifty day simple moving average is $237.55 and its two-hundred day simple moving average is $245.01. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.70 and a beta of 0.96. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 0.55.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share 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 analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. Asbury Automotive Group's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $7.21 earnings per share. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

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.