State Street Corp Sells 28,757 Shares of Asbury Automotive Group, Inc. (ABG)

State Street Corp lowered its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 5.0% during the fourth quarter, Holdings Channel reports. The firm owned 547,577 shares of the company’s stock after selling 28,757 shares during the period. State Street Corp’s holdings in Asbury Automotive Group were worth $33,791,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABG. Rhumbline Advisers increased its stake in shares of Asbury Automotive Group by 7.8% in the third quarter. Rhumbline Advisers now owns 35,179 shares of the company’s stock valued at $1,958,000 after buying an additional 2,545 shares during the period. New York State Common Retirement Fund increased its stake in shares of Asbury Automotive Group by 22.6% in the third quarter. New York State Common Retirement Fund now owns 112,937 shares of the company’s stock valued at $6,287,000 after buying an additional 20,856 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Asbury Automotive Group by 37.4% in the third quarter. JPMorgan Chase & Co. now owns 47,300 shares of the company’s stock valued at $2,633,000 after buying an additional 12,884 shares during the period. Sei Investments Co. increased its stake in shares of Asbury Automotive Group by 8.4% in the third quarter. Sei Investments Co. now owns 92,119 shares of the company’s stock valued at $5,129,000 after buying an additional 7,162 shares during the period. Finally, US Bancorp DE increased its stake in shares of Asbury Automotive Group by 17.2% in the third quarter. US Bancorp DE now owns 3,274 shares of the company’s stock valued at $182,000 after buying an additional 480 shares during the period.

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) opened at 60.65 on Friday. The stock has a market cap of $1.28 billion, a P/E ratio of 8.20 and a beta of 1.33. Asbury Automotive Group, Inc. has a one year low of $47.50 and a one year high of $71.00. The firm’s 50-day moving average price is $64.36 and its 200 day moving average price is $59.71.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.14. Asbury Automotive Group had a return on equity of 57.45% and a net margin of 2.56%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Asbury Automotive Group, Inc. will post $6.41 EPS for the current fiscal year.

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Several equities research analysts have weighed in on the company. Jefferies Group LLC upped their price target on Asbury Automotive Group from $64.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, February 7th. Zacks Investment Research upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, February 9th.

In other news, SVP George A. Villasana sold 13,004 shares of the firm’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $65.11, for a total transaction of $846,690.44. Following the sale, the senior vice president now owns 26,784 shares in the company, valued at $1,743,906.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George Karolis sold 2,773 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $69.01, for a total value of $191,364.73. Following the sale, the senior vice president now owns 6,927 shares in the company, valued at approximately $478,032.27. The disclosure for this sale can be found here. Insiders have sold 25,777 shares of company stock worth $1,703,055 in the last 90 days. Insiders own 10.90% of the company’s stock.

About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.

5 Day Chart for NYSE:ABG

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