Bank of New York Mellon Corp Decreases Holdings in Asbury Automotive Group, Inc. $ABG

Bank of New York Mellon Corp trimmed its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,644 shares of the company’s stock after selling 5,818 shares during the quarter. Bank of New York Mellon Corp’s holdings in Asbury Automotive Group were worth $26,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Asbury Automotive Group by 11.0% in the 1st quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock worth $1,383,000 after purchasing an additional 619 shares during the period. Goldman Sachs Group Inc. increased its holdings in Asbury Automotive Group by 49.1% during the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after buying an additional 91,767 shares during the last quarter. United Services Automobile Association purchased a new stake in Asbury Automotive Group during the first quarter valued at approximately $265,000. Empowered Funds LLC raised its position in Asbury Automotive Group by 11.4% in the first quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock worth $1,687,000 after acquiring an additional 783 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Asbury Automotive Group by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company’s stock worth $11,316,000 after acquiring an additional 1,676 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Asbury Automotive Group from $202.00 to $221.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a report on Thursday, May 7th. Citigroup reduced their target price on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Stephens restated an “overweight” rating and set a $242.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $233.12.

Asbury Automotive Group Trading Up 0.9%

ABG stock opened at $227.30 on Tuesday. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $263.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.30 and a beta of 0.74. The business has a 50 day simple moving average of $201.83 and a two-hundred day simple moving average of $209.52.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the business earned $6.82 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that Asbury Automotive Group, Inc. will post 26.26 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director B. Christopher Disantis bought 157 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $182.31 per share, with a total value of $28,622.67. Following the completion of the purchase, the director owned 6,400 shares of the company’s stock, valued at approximately $1,166,784. The trade was a 2.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Asbury Automotive Group Profile

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.