New York State Common Retirement Fund Lowers Position in Asbury Automotive Group, Inc. (ABG)

New York State Common Retirement Fund trimmed its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,560 shares of the company’s stock after selling 3,570 shares during the period. New York State Common Retirement Fund owned 0.12% of Asbury Automotive Group worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in Asbury Automotive Group by 103.5% in the second quarter. Russell Investments Group Ltd. now owns 20,352 shares of the company’s stock valued at $1,151,000 after buying an additional 10,352 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Asbury Automotive Group by 11.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 190,784 shares of the company’s stock valued at $10,789,000 after purchasing an additional 19,117 shares during the period. First Trust Advisors LP raised its stake in shares of Asbury Automotive Group by 19.2% during the second quarter. First Trust Advisors LP now owns 29,608 shares of the company’s stock valued at $1,674,000 after purchasing an additional 4,759 shares during the period. Legal & General Group Plc raised its stake in shares of Asbury Automotive Group by 3.9% during the second quarter. Legal & General Group Plc now owns 54,783 shares of the company’s stock valued at $3,097,000 after purchasing an additional 2,061 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Asbury Automotive Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock valued at $125,000 after purchasing an additional 331 shares during the period.

A number of analysts have recently weighed in on ABG shares. Jefferies Group reissued a “hold” rating and set a $61.00 price target on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, TheStreet raised shares of Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.75.

In other Asbury Automotive Group news, CEO Craig T. Monaghan sold 48,288 shares of Asbury Automotive Group stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $60.96, for a total transaction of $2,943,636.48. Following the transaction, the chief executive officer now owns 125,408 shares of the company’s stock, valued at approximately $7,644,871.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Craig T. Monaghan sold 16,096 shares of Asbury Automotive Group stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $61.08, for a total value of $983,143.68. Following the transaction, the chief executive officer now directly owns 125,408 shares in the company, valued at approximately $7,659,920.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,884 shares of company stock worth $16,426,020. 11.90% of the stock is owned by company insiders.

Shares of Asbury Automotive Group, Inc. (ABG) opened at $63.25 on Wednesday. Asbury Automotive Group, Inc. has a one year low of $49.10 and a one year high of $71.00. The company has a current ratio of 1.25, a quick ratio of 0.38 and a debt-to-equity ratio of 2.60. The firm has a market cap of $1,332.33, a PE ratio of 8.22, a P/E/G ratio of 1.11 and a beta of 1.56.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Asbury Automotive Group’s revenue for the quarter was down 4.8% compared to the same quarter last year. research analysts predict 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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