Asbury Automotive Group, Inc. (ABG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,764 shares of the company’s stock after selling 3,941 shares during the quarter. Principal Financial Group Inc. owned about 0.69% of Asbury Automotive Group worth $8,784,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ABG. Victory Capital Management Inc. raised its position in Asbury Automotive Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock worth $125,000 after acquiring an additional 331 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after acquiring an additional 132 shares in the last quarter. Stevens Capital Management LP purchased a new position in Asbury Automotive Group in the second quarter worth $220,000. Parametrica Management Ltd purchased a new position in Asbury Automotive Group in the third quarter worth $223,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Asbury Automotive Group in the second quarter worth $230,000.

A number of brokerages have recently weighed in on ABG. Jefferies Group restated a “hold” rating and issued a $61.00 price target on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Zacks Investment Research upgraded Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Asbury Automotive Group has an average rating of “Hold” and an average target price of $56.75.

In related news, Director Juanita T. James sold 1,500 shares of Asbury Automotive Group stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $66.16, for a total transaction of $99,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joel Alsfine sold 200,000 shares of Asbury Automotive Group stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.00, for a total value of $12,400,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,884 shares of company stock valued at $16,719,320. 11.90% of the stock is currently owned by company insiders.

Asbury Automotive Group, Inc. (NYSE:ABG) opened at $67.00 on Wednesday. Asbury Automotive Group, Inc. has a 52-week low of $49.10 and a 52-week high of $71.00. The firm has a market capitalization of $1,408.32, a price-to-earnings ratio of 10.91, a PEG ratio of 1.21 and a beta of 1.56. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.25 and a quick ratio of 0.38.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.09). Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. sell-side analysts forecast that Asbury Automotive Group, Inc. will post 6.25 EPS for the current year.

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Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

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

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