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

Principal Financial Group Inc. boosted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,544 shares of the company's stock after buying an additional 2,549 shares during the quarter. Principal Financial Group Inc. owned 0.50% of Asbury Automotive Group worth $21,542,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Teacher Retirement System of Texas boosted its position in shares of Asbury Automotive Group by 13.0% during the 1st quarter. Teacher Retirement System of Texas now owns 9,459 shares of the company's stock valued at $2,089,000 after acquiring an additional 1,089 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its stake in shares of Asbury Automotive Group by 2.2% during the first quarter. Lawson Kroeker Investment Management Inc. NE now owns 47,380 shares of the company's stock valued at $10,463,000 after buying an additional 1,021 shares during the period. New York State Teachers Retirement System increased its stake in shares of Asbury Automotive Group by 13.7% during the first quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock valued at $3,279,000 after buying an additional 1,787 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Asbury Automotive Group in the first quarter worth about $262,000. Finally, Highland Capital Management LLC lifted its position in shares of Asbury Automotive Group by 23.8% during the first quarter. Highland Capital Management LLC now owns 1,099 shares of the company's stock valued at $243,000 after buying an additional 211 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABG. Citigroup initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective on the stock. Bank of America increased their target price on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $263.50.

Asbury Automotive Group Price Performance

Shares of ABG traded down $3.22 on Friday, reaching $262.75. The stock had a trading volume of 92,103 shares, compared to its average volume of 197,852. The firm has a 50-day moving average of $237.55 and a 200 day moving average of $245.06. The firm has a market capitalization of $5.17 billion, a PE ratio of 12.51, a PEG ratio of 1.71 and a beta of 0.96. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.42% and a return on equity of 15.41%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $7.21 EPS. Sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current 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.