PNC Financial Services Group Inc. Sells 164 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

PNC Financial Services Group Inc. decreased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,962 shares of the company’s stock after selling 164 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Asbury Automotive Group were worth $963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in Asbury Automotive Group in the third quarter worth approximately $804,000. Intech Investment Management LLC purchased a new stake in shares of Asbury Automotive Group in the 3rd quarter valued at $1,223,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Asbury Automotive Group during the 4th quarter valued at $221,000. Empirical Asset Management LLC purchased a new position in Asbury Automotive Group in the 4th quarter worth $484,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Asbury Automotive Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock worth $51,465,000 after purchasing an additional 3,273 shares during the last quarter.

Asbury Automotive Group Trading Up 1.8 %

ABG opened at $235.11 on Tuesday. Asbury Automotive Group, Inc. has a one year low of $206.62 and a one year high of $312.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The business has a 50 day simple moving average of $268.34 and a two-hundred day simple moving average of $250.64. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 10.93 and a beta of 1.22.

Insider Activity

In related news, COO Daniel Clara sold 1,217 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABG. Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $264.00.

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.