United Services Automobile Association acquired a new position in shares of Asbury Automotive Group Inc (NYSE:ABG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,510 shares of the company’s stock, valued at approximately $451,000.
Several other hedge funds have also recently bought and sold shares of ABG. Neuberger Berman Group LLC raised its stake in Asbury Automotive Group by 42.2% in the first quarter. Neuberger Berman Group LLC now owns 1,446,088 shares of the company’s stock worth $86,910,000 after buying an additional 429,046 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Asbury Automotive Group by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 774,953 shares of the company’s stock worth $47,815,000 after buying an additional 17,185 shares in the last quarter. Prudential Financial Inc. raised its stake in Asbury Automotive Group by 304.9% in the first quarter. Prudential Financial Inc. now owns 521,648 shares of the company’s stock worth $31,352,000 after buying an additional 392,811 shares in the last quarter. River Road Asset Management LLC purchased a new stake in Asbury Automotive Group during the first quarter worth about $21,387,000. Finally, Macquarie Group Ltd. raised its stake in Asbury Automotive Group by 12.1% in the fourth quarter. Macquarie Group Ltd. now owns 349,473 shares of the company’s stock worth $21,562,000 after buying an additional 37,823 shares in the last quarter. Institutional investors own 99.89% of the company’s stock.
Shares of Asbury Automotive Group Inc (ABG) opened at 57.60 on Friday. Asbury Automotive Group Inc has a 52-week low of $47.50 and a 52-week high of $71.00. The stock’s 50 day moving average is $55.90 and its 200-day moving average is $60.35. The firm has a market cap of $1.21 billion, a P/E ratio of 7.36 and a beta of 1.44.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. Asbury Automotive Group had a return on equity of 52.23% and a net margin of 2.61%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that Asbury Automotive Group Inc will post $6.53 earnings per share for the current fiscal year.
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ABG has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Deutsche Bank AG reissued a “hold” rating and set a $60.00 price target (down previously from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. Jefferies Group LLC reissued a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Finally, ValuEngine downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.00.
In related news, COO David W. Hult sold 12,500 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total value of $716,750.00. Following the completion of the transaction, the chief operating officer now directly owns 41,911 shares in the company, valued at $2,403,176.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas C. Deloach, Jr. sold 1,676 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $59.20, for a total value of $99,219.20. Following the completion of the transaction, the director now owns 82,000 shares of the company’s stock, valued at $4,854,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,919 shares of company stock valued at $969,522. Corporate insiders own 11.90% of the company’s stock.
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.
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