Principal Financial Group Inc. Sells 5,304 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Principal Financial Group Inc. lowered its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,207 shares of the company’s stock after selling 5,304 shares during the quarter. Principal Financial Group Inc.’s holdings in Asbury Automotive Group were worth $22,477,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in Asbury Automotive Group during the 3rd quarter worth approximately $31,000. Quarry LP bought a new stake in shares of Asbury Automotive Group during the second quarter worth $38,000. GAMMA Investing LLC raised its holdings in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after acquiring an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Asbury Automotive Group in the 2nd quarter valued at $155,000. Finally, Headlands Technologies LLC acquired a new position in Asbury Automotive Group in the 2nd quarter worth $190,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABG. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Bank of America lowered their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Stephens started coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price for the company. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Stock Up 2.4 %

ABG stock opened at $264.89 on Thursday. Asbury Automotive Group, Inc. has a twelve month low of $195.09 and a twelve month high of $277.13. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 14.99 and a beta of 1.16. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $231.86 and a two-hundred day moving average price of $233.74.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business posted $8.12 earnings per share. Asbury Automotive Group’s quarterly revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that Asbury Automotive Group, Inc. will post 25.37 EPS for the current fiscal year.

About Asbury Automotive Group

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.