The Manufacturers Life Insurance Company Sells 563 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

The Manufacturers Life Insurance Company cut its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,071 shares of the company’s stock after selling 563 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Asbury Automotive Group worth $2,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABG. Aster Capital Management DIFC Ltd bought a new position in Asbury Automotive Group in the fourth quarter valued at about $25,000. CIBC Private Wealth Group LLC lifted its stake in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after purchasing an additional 41 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Asbury Automotive Group by 234.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after buying an additional 351 shares during the last quarter. Headlands Technologies LLC grew its position in Asbury Automotive Group by 275.2% during the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock valued at $147,000 after buying an additional 443 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Asbury Automotive Group by 801.4% during the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock valued at $153,000 after buying an additional 561 shares during the last quarter.

Asbury Automotive Group Stock Down 0.4 %

Shares of ABG opened at $224.99 on Friday. The business’s 50 day moving average is $227.50 and its 200 day moving average is $248.76. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The company has a market capitalization of $4.42 billion, a PE ratio of 10.46 and a beta of 0.98.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the business earned $7.21 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ABG has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Citigroup initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $258.50.

Asbury Automotive Group 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.