T. Rowe Price Investment Management Inc. Has $66.14 Million Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

T. Rowe Price Investment Management Inc. lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 272,128 shares of the company's stock after selling 5,043 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.39% of Asbury Automotive Group worth $66,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its position in shares of Asbury Automotive Group by 9.3% during 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 last quarter. Bank of Montreal Can lifted its holdings in shares of Asbury Automotive Group by 2.0% in the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock valued at $608,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of Asbury Automotive Group by 2.4% in the third quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company's stock valued at $506,000 after purchasing an additional 50 shares in the last quarter. Mariner LLC lifted its holdings in shares of Asbury Automotive Group by 3.7% in the fourth quarter. Mariner LLC now owns 1,856 shares of the company's stock valued at $451,000 after purchasing an additional 67 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Asbury Automotive Group by 4.5% in the fourth quarter. HighTower Advisors LLC now owns 1,798 shares of the company's stock valued at $437,000 after purchasing an additional 78 shares in the last quarter.

Insiders Place Their Bets

In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This represents a 24.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Citigroup assumed coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 target price for the company. Finally, Stephens increased their target price 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. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $258.50.

Asbury Automotive Group Stock Down 0.1 %

Shares of NYSE ABG traded down $0.24 during mid-day trading on Thursday, reaching $217.90. The company had a trading volume of 144,651 shares, compared to its average volume of 204,180. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The stock has a market capitalization of $4.28 billion, a PE ratio of 10.15 and a beta of 1.04. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The stock's 50 day moving average is $233.93 and its 200-day moving average is $249.18.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing the consensus estimate of $6.84 by ($0.02). The business 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 16.29% and a net margin of 2.50%. The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $7.21 earnings per share. As a group, equities analysts anticipate 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.