Corebridge Financial Inc. Sells 1,147 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Corebridge Financial Inc. lowered its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,471 shares of the company’s stock after selling 1,147 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Asbury Automotive Group worth $2,545,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABG. GoodHaven Capital Management LLC purchased a new position in Asbury Automotive Group in the fourth quarter worth $2,916,000. Magnolia Group LLC boosted its position in shares of Asbury Automotive Group by 2.1% in the 4th quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock worth $36,241,000 after purchasing an additional 3,000 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Asbury Automotive Group during the 4th quarter worth $221,000. Charles Schwab Investment Management Inc. increased its position in Asbury Automotive Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock valued at $51,465,000 after buying an additional 3,273 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in Asbury Automotive Group by 52.3% during the 4th quarter. Intech Investment Management LLC now owns 7,805 shares of the company’s stock valued at $1,897,000 after buying an additional 2,680 shares in the last quarter.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $220.78 on Tuesday. Asbury Automotive Group, Inc. has a twelve month low of $206.62 and a twelve month high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.34 billion, a PE ratio of 10.26 and a beta of 1.22. The company’s 50 day moving average is $265.96 and its 200 day moving average is $250.86.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABG. JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Stephens boosted their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $263.00.

Insider Activity

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

Asbury Automotive Group 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.