Norges Bank Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Norges Bank purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 337,733 shares of the company's stock, valued at approximately $82,079,000. Norges Bank owned about 1.72% of Asbury Automotive Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in ABG. Madison Investment Advisors LLC acquired a new stake in Asbury Automotive Group in the 4th quarter valued at approximately $82,426,000. Artisan Partners Limited Partnership bought a new stake in shares of Asbury Automotive Group in the fourth quarter valued at approximately $51,118,000. JPMorgan Chase & Co. grew its stake in shares of Asbury Automotive Group by 18.9% in the fourth quarter. JPMorgan Chase & Co. now owns 186,306 shares of the company's stock worth $45,278,000 after acquiring an additional 29,579 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Asbury Automotive Group during the fourth quarter worth $5,316,000. Finally, Stifel Financial Corp raised its stake in Asbury Automotive Group by 1,990.9% during the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company's stock valued at $4,754,000 after purchasing an additional 18,973 shares during the last quarter.

Wall Street Analysts Forecast Growth

ABG has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Stephens upped their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group has an average rating of "Hold" and a consensus target price of $263.00.

Asbury Automotive Group Price Performance

NYSE ABG traded up $3.41 on Monday, reaching $215.99. The company's stock had a trading volume of 363,402 shares, compared to its average volume of 195,130. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.24 billion, a PE ratio of 10.04 and a beta of 1.04. The business has a 50-day moving average price of $261.81 and a 200 day moving average price of $250.76.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now directly owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Asbury Automotive Group Profile

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.