Northern Trust Corp Increases Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Northern Trust Corp boosted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,007 shares of the company’s stock after purchasing an additional 19,923 shares during the period. Northern Trust Corp owned about 1.22% of Asbury Automotive Group worth $58,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ABG. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC increased its position 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 last quarter. Smartleaf Asset Management LLC raised its stake in shares of Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock valued at $122,000 after purchasing an additional 351 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Asbury Automotive Group by 275.2% during the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after purchasing an additional 443 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in Asbury Automotive Group by 801.4% in the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock worth $153,000 after purchasing an additional 561 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on ABG. Citigroup initiated coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price on the stock. Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, Stephens raised their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $258.50.

Asbury Automotive Group Stock Performance

ABG stock opened at $220.53 on Wednesday. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a market capitalization of $4.34 billion, a P/E ratio of 10.25 and a beta of 0.98. The company has a 50-day simple moving average of $229.78 and a 200 day simple moving average of $249.01. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

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

Insider Buying and Selling

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.59% of the company’s stock.

Asbury Automotive Group Company 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.