Prudential Financial Inc. Has $8,406,000 Stake in Asbury Automotive Group Inc. (ABG)
Prudential Financial Inc. raised its stake in Asbury Automotive Group Inc. (NYSE:ABG) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,379 shares of the company’s stock after buying an additional 10,176 shares during the period. Prudential Financial Inc. owned about 0.72% of Asbury Automotive Group worth $8,406,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in Asbury Automotive Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,010 shares of the company’s stock valued at $159,000 after buying an additional 364 shares during the last quarter. OLD National Bancorp IN acquired a new stake in Asbury Automotive Group during the second quarter valued at approximately $424,000. LSV Asset Management raised its stake in Asbury Automotive Group by 109.4% in the second quarter. LSV Asset Management now owns 64,300 shares of the company’s stock valued at $3,391,000 after buying an additional 33,600 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Asbury Automotive Group during the second quarter valued at approximately $105,000. Finally, PNC Financial Services Group Inc. raised its stake in Asbury Automotive Group by 66.4% in the second quarter. PNC Financial Services Group Inc. now owns 249,078 shares of the company’s stock valued at $13,136,000 after buying an additional 99,426 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.
Asbury Automotive Group Inc. (NYSE:ABG) traded down 1.60% on Friday, hitting $54.02. 196,564 shares of the stock traded hands. Asbury Automotive Group Inc. has a 12 month low of $43.56 and a 12 month high of $87.63. The company has a market capitalization of $1.20 billion, a PE ratio of 8.23 and a beta of 1.20. The firm has a 50-day moving average price of $54.32 and a 200-day moving average price of $56.08.
Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, July 26th. The company reported $1.65 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.65. Asbury Automotive Group had a net margin of 2.45% and a return on equity of 51.29%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the business earned $1.52 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts forecast that Asbury Automotive Group Inc. will post $6.11 earnings per share for the current year.
ABG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, September 27th. Wolfe Research initiated coverage on shares of Asbury Automotive Group in a report on Tuesday, September 13th. They issued a “market perform” rating for the company. Finally, TheStreet raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $70.75.
In other news, CEO Craig T. Monaghan sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $57.92, for a total value of $1,563,840.00. Following the sale, the chief executive officer now directly owns 125,519 shares in the company, valued at approximately $7,270,060.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith Style sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $61.11, for a total transaction of $305,550.00. Following the completion of the sale, the chief financial officer now owns 26,642 shares in the company, valued at $1,628,092.62. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
About Asbury Automotive Group
Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.
Want to see what other hedge funds are holding ABG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Asbury Automotive Group Inc. (NYSE:ABG).
Receive News & Ratings for Asbury Automotive Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.