Invesco Ltd. Boosts Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Invesco Ltd. increased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 8.8% during the 4th quarter, Holdings Channel reports. The fund owned 184,435 shares of the company’s stock after purchasing an additional 14,865 shares during the quarter. Invesco Ltd.’s holdings in Asbury Automotive Group were worth $44,823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABG. CIBC Private Wealth Group LLC increased its holdings in Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after purchasing an additional 41 shares during the period. Bank of Montreal Can increased its stake in shares of Asbury Automotive Group by 2.0% during the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company’s stock worth $608,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC raised its holdings in Asbury Automotive Group by 2.4% in the third quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company’s stock valued at $506,000 after acquiring an additional 50 shares in the last quarter. HighTower Advisors LLC raised its holdings in Asbury Automotive Group by 3.2% in the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock valued at $409,000 after acquiring an additional 53 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in Asbury Automotive Group by 2.3% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,023 shares of the company’s stock worth $978,000 after acquiring an additional 92 shares during the last quarter.

Insider Buying and Selling

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 3,747 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $222.31 on Wednesday. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month 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 firm has a market capitalization of $4.37 billion, a P/E ratio of 10.34 and a beta of 1.04. The company’s fifty day moving average price is $252.25 and its 200 day moving average price is $250.15.

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.