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

Principal Financial Group Inc. lowered its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,207 shares of the company's stock after selling 5,304 shares during the period. Principal Financial Group Inc. owned about 0.47% of Asbury Automotive Group worth $22,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ABG. Arizona State Retirement System lifted its stake in shares of Asbury Automotive Group by 1.0% in the second quarter. Arizona State Retirement System now owns 5,141 shares of the company's stock valued at $1,171,000 after purchasing an additional 51 shares during the period. Oak Associates Ltd. OH increased its stake in shares of Asbury Automotive Group by 1.4% during the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company's stock worth $831,000 after purchasing an additional 51 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Asbury Automotive Group by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 10,980 shares of the company's stock worth $2,588,000 after purchasing an additional 60 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Asbury Automotive Group by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company's stock valued at $690,000 after buying an additional 66 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Asbury Automotive Group by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,804 shares of the company's stock valued at $2,690,000 after buying an additional 99 shares in the last quarter.

Asbury Automotive Group Trading Down 1.3 %

Shares of ABG stock traded down $3.38 during trading hours on Thursday, hitting $261.41. 69,389 shares of the company were exchanged, compared to its average volume of 184,768. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The firm has a fifty day moving average of $231.86 and a 200 day moving average of $233.74. The firm has a market cap of $5.12 billion, a PE ratio of 15.05 and a beta of 1.16. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts' consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the business earned $8.12 EPS. The business's revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that Asbury Automotive Group, Inc. will post 25.37 earnings per share for the current year.

Analyst Ratings Changes

ABG has been the subject of a number of analyst reports. StockNews.com raised Asbury Automotive Group from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Bank of America cut their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Stephens assumed coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price target on the stock. Morgan Stanley raised shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $256.20.

Asbury Automotive Group Company Profile

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.