Dimensional Fund Advisors LP Increases Holdings in Asbury Automotive Group, Inc. $ABG

Dimensional Fund Advisors LP raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,156,426 shares of the company’s stock after purchasing an additional 34,104 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Asbury Automotive Group worth $225,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ABG. State Street Corp raised its holdings in shares of Asbury Automotive Group by 1.2% during the fourth quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after acquiring an additional 9,535 shares in the last quarter. Norges Bank bought a new stake in Asbury Automotive Group in the fourth quarter valued at $77,963,000. Thrivent Financial for Lutherans boosted its holdings in Asbury Automotive Group by 106.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after acquiring an additional 152,669 shares in the last quarter. Magnolia Group LLC increased its position in Asbury Automotive Group by 3.1% during the 1st quarter. Magnolia Group LLC now owns 288,004 shares of the company’s stock valued at $56,279,000 after purchasing an additional 8,731 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Asbury Automotive Group by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after purchasing an additional 91,767 shares during the period.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $222.34 on Friday. Asbury Automotive Group, Inc. has a 12 month low of $172.01 and a 12 month high of $263.38. The stock has a market cap of $4.14 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average price is $199.89 and its 200-day moving average price is $209.73.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the business earned $6.82 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. On average, equities analysts expect that Asbury Automotive Group, Inc. will post 26.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $220.00 target price on shares of Asbury Automotive Group in a research report on Thursday, May 7th. Stephens reiterated an “overweight” rating and set a $242.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Citigroup cut their price objective on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Finally, Barclays reduced their target price on Asbury Automotive Group from $235.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $233.12.

Insiders Place Their Bets

In other Asbury Automotive Group news, Director B. Christopher Disantis acquired 157 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $182.31 per share, for a total transaction of $28,622.67. Following the completion of the acquisition, the director owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.