California Public Employees Retirement System Reduces Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

California Public Employees Retirement System lessened its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,386 shares of the company's stock after selling 2,947 shares during the period. California Public Employees Retirement System owned about 0.14% of Asbury Automotive Group worth $6,656,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SkyView Investment Advisors LLC grew its holdings in shares of Asbury Automotive Group by 2.4% during the 3rd 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 during the last quarter. HighTower Advisors LLC increased its position in shares of Asbury Automotive Group by 3.2% during the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company's stock worth $409,000 after buying an additional 53 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Asbury Automotive Group by 2.3% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,023 shares of the company's stock worth $978,000 after acquiring an additional 92 shares in the last quarter. Evergreen Private Wealth LLC lifted its stake in Asbury Automotive Group by 0.7% in the fourth quarter. Evergreen Private Wealth LLC now owns 16,624 shares of the company's stock valued at $4,040,000 after buying an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Asbury Automotive Group by 17.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 839 shares of the company's stock worth $204,000 after acquiring an additional 123 shares in the last quarter.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of the business's 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 transaction, the chief operating officer now owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABG. JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Craig Hallum downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Stephens upped their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note 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, the company presently has a consensus rating of "Hold" and a consensus price target of $263.00.

Asbury Automotive Group Stock Performance

ABG traded up $4.50 during midday trading on Friday, hitting $228.22. 292,783 shares of the company traded hands, compared to its average volume of 198,255. The firm has a market capitalization of $4.48 billion, a PE ratio of 10.61 and a beta of 1.04. The company's 50-day moving average is $253.83 and its 200 day moving average is $250.20. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

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.