State Street Corp decreased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 547,577 shares of the company’s stock after selling 28,757 shares during the period. State Street Corp owned 2.47% of Asbury Automotive Group worth $33,791,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of ABG. Rhumbline Advisers boosted its stake in shares of Asbury Automotive Group by 7.8% in the third quarter. Rhumbline Advisers now owns 35,179 shares of the company’s stock valued at $1,958,000 after buying an additional 2,545 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Asbury Automotive Group by 22.6% in the third quarter. New York State Common Retirement Fund now owns 112,937 shares of the company’s stock valued at $6,287,000 after buying an additional 20,856 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Asbury Automotive Group by 37.4% in the third quarter. JPMorgan Chase & Co. now owns 47,300 shares of the company’s stock valued at $2,633,000 after buying an additional 12,884 shares during the period. Sei Investments Co. boosted its stake in shares of Asbury Automotive Group by 8.4% in the third quarter. Sei Investments Co. now owns 92,119 shares of the company’s stock valued at $5,129,000 after buying an additional 7,162 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Asbury Automotive Group by 17.2% in the third quarter. US Bancorp DE now owns 3,274 shares of the company’s stock valued at $182,000 after buying an additional 480 shares during the period.
Shares of Asbury Automotive Group, Inc. (NYSE:ABG) traded down 1.45% during trading on Friday, hitting $61.35. 299,301 shares of the stock were exchanged. Asbury Automotive Group, Inc. has a one year low of $47.50 and a one year high of $71.00. The stock has a market cap of $1.30 billion, a PE ratio of 8.29 and a beta of 1.33. The stock’s 50 day moving average price is $60.72 and its 200 day moving average price is $60.43.
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Several analysts recently weighed in on ABG shares. Zacks Investment Research raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, February 9th. Jefferies Group LLC raised their price objective on shares of Asbury Automotive Group from $64.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, February 7th.
In related news, CFO Keith Style sold 10,000 shares of Asbury Automotive Group stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $66.50, for a total transaction of $665,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,135 shares of the company’s stock, valued at $1,272,477.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP George Karolis sold 2,773 shares of Asbury Automotive Group stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $69.01, for a total value of $191,364.73. Following the sale, the senior vice president now directly owns 6,927 shares of the company’s stock, valued at $478,032.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,777 shares of company stock valued at $1,703,055. 10.90% of the stock is owned by insiders.
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.
