Texas Permanent School Fund Reduces Position in Asbury Automotive Group, Inc. (ABG)

Texas Permanent School Fund lowered its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,535 shares of the company’s stock after selling 1,002 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Asbury Automotive Group worth $802,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. AHL Partners LLP acquired a new position in Asbury Automotive Group during the 2nd quarter worth approximately $370,000. Macquarie Group Ltd. grew its holdings in Asbury Automotive Group by 8.5% during the 3rd quarter. Macquarie Group Ltd. now owns 414,366 shares of the company’s stock worth $25,318,000 after acquiring an additional 32,339 shares in the last quarter. Mangrove Partners acquired a new position in Asbury Automotive Group during the 3rd quarter worth approximately $2,881,000. State Street Corp grew its holdings in Asbury Automotive Group by 4.4% during the 2nd quarter. State Street Corp now owns 592,006 shares of the company’s stock worth $33,477,000 after acquiring an additional 24,719 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Asbury Automotive Group by 2.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 195,424 shares of the company’s stock worth $11,941,000 after acquiring an additional 4,640 shares in the last quarter.

In other news, Director Juanita T. James sold 1,500 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $66.16, for a total value of $99,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig T. Monaghan sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total transaction of $1,028,550.00. Following the completion of the transaction, the director now owns 86,112 shares of the company’s stock, valued at approximately $5,904,699.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,075 shares of company stock valued at $3,090,893. Company insiders own 11.90% of the company’s stock.

ABG has been the subject of several research analyst reports. Craig Hallum upped their target price on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $78.00 target price for the company in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.40.

Asbury Automotive Group, Inc. (ABG) opened at $68.80 on Friday. Asbury Automotive Group, Inc. has a twelve month low of $49.10 and a twelve month high of $76.40. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.25 and a quick ratio of 0.38. The stock has a market cap of $1,427.05, a price-to-earnings ratio of 10.63, a PEG ratio of 0.90 and a beta of 1.58.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, February 6th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 42.06%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. sell-side analysts expect that Asbury Automotive Group, Inc. will post 7.03 earnings per share for the current year.

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About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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