44,179 Shares in Asbury Automotive Group, Inc. $ABG Bought by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the 2nd quarter, Holdings Channel.com reports. The firm bought 44,179 shares of the company’s stock, valued at approximately $8,884,000.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Asbury Automotive Group in the second quarter worth about $593,499,000. Dimensional Fund Advisors LP increased its holdings in shares of Asbury Automotive Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock valued at $225,977,000 after acquiring an additional 34,104 shares during the last quarter. State Street Corp increased its holdings in shares of Asbury Automotive Group by 1.2% during the 4th quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after acquiring an additional 9,535 shares during the last quarter. Norges Bank bought a new position in shares of Asbury Automotive Group in the 4th quarter valued at approximately $77,963,000. Finally, Madison Asset Management LLC bought a new position in shares of Asbury Automotive Group in the 2nd quarter valued at approximately $60,592,000.

Asbury Automotive Group Stock Down 1.0%

Shares of ABG opened at $209.19 on Wednesday. The company has a 50-day simple moving average of $214.49 and a 200-day simple moving average of $205.21. The firm has a market capitalization of $3.75 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. Asbury Automotive Group, Inc. has a 52 week low of $172.01 and a 52 week high of $262.67.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the business earned $7.43 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 26.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $242.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Barclays lifted their price target on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Morgan Stanley boosted their price objective on shares of Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. UBS Group set a $250.00 price objective on shares of Asbury Automotive Group in a report on Wednesday, July 29th. Finally, Citigroup lifted their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and an average target price of $246.71.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 948 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president owned 11,259 shares in the company, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.