Maryland State Retirement & Pension System Trims Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Maryland State Retirement & Pension System lowered its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,479 shares of the company’s stock after selling 99 shares during the period. Maryland State Retirement & Pension System’s holdings in Asbury Automotive Group were worth $1,683,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Asbury Automotive Group by 22.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,252 shares of the company’s stock worth $748,000 after purchasing an additional 597 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Asbury Automotive Group during the third quarter worth $297,000. TD Asset Management Inc purchased a new position in Asbury Automotive Group in the third quarter valued at $483,000. Congress Wealth Management LLC DE lifted its holdings in Asbury Automotive Group by 1.0% during the 3rd quarter. Congress Wealth Management LLC DE now owns 57,368 shares of the company’s stock worth $13,199,000 after buying an additional 555 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in shares of Asbury Automotive Group by 2.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,158 shares of the company’s stock valued at $957,000 after buying an additional 108 shares during the last quarter.

Asbury Automotive Group Trading Up 0.6 %

Shares of ABG stock traded up $1.42 during trading hours on Wednesday, hitting $220.72. 9,969 shares of the company were exchanged, compared to its average volume of 165,844. Asbury Automotive Group, Inc. has a 1 year low of $178.40 and a 1 year high of $256.39. The firm has a fifty day moving average of $217.36 and a 200 day moving average of $213.33. The firm has a market cap of $4.45 billion, a PE ratio of 8.00 and a beta of 1.19. The company has a quick ratio of 0.38, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.76 by ($0.55). The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $8.37 earnings per share. Analysts expect that Asbury Automotive Group, Inc. will post 30.85 earnings per share for the current year.

Wall Street Analyst Weigh In

ABG has been the subject of several analyst reports. Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a report on Thursday, February 8th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd.

Insider Buying and Selling

In other news, SVP Jed Milstein sold 3,955 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total transaction of $826,595.00. Following the sale, the senior vice president now owns 8,300 shares in the company, valued at $1,734,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.