Principal Financial Group Inc. Has $30.20 Million Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Principal Financial Group Inc. increased its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,829 shares of the company’s stock after purchasing an additional 15,685 shares during the quarter. Principal Financial Group Inc. owned approximately 0.76% of Asbury Automotive Group worth $30,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its holdings in Asbury Automotive Group by 17.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 32,519 shares of the company’s stock worth $5,617,000 after purchasing an additional 4,791 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth $3,039,000. First Horizon Advisors Inc. lifted its stake in Asbury Automotive Group by 78.4% in the fourth quarter. First Horizon Advisors Inc. now owns 223 shares of the company’s stock valued at $38,000 after acquiring an additional 98 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Asbury Automotive Group by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 742,439 shares of the company’s stock valued at $128,237,000 after acquiring an additional 12,755 shares during the last quarter. Finally, Argent Capital Management LLC lifted its stake in Asbury Automotive Group by 11.0% in the fourth quarter. Argent Capital Management LLC now owns 3,835 shares of the company’s stock valued at $662,000 after acquiring an additional 380 shares during the last quarter.

NYSE ABG opened at $191.98 on Friday. The firm has a 50-day moving average of $173.63 and a 200-day moving average of $173.04. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.70 and a current ratio of 1.14. The stock has a market cap of $4.25 billion, a PE ratio of 5.97, a P/E/G ratio of 0.28 and a beta of 1.20. Asbury Automotive Group, Inc. has a 52-week low of $146.43 and a 52-week high of $230.96.

Asbury Automotive Group (NYSE:ABG – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.94 by $0.33. Asbury Automotive Group had a net margin of 5.86% and a return on equity of 39.72%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm earned $4.68 earnings per share. Asbury Automotive Group’s revenue for the quarter was up 78.4% compared to the same quarter last year. As a group, analysts predict that Asbury Automotive Group, Inc. will post 35.01 EPS for the current fiscal year.

In other Asbury Automotive Group news, CEO David W. Hult sold 23,848 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $195.81, for a total value of $4,669,676.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Miran Maric sold 233 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $187.79, for a total transaction of $43,755.07. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

A number of analysts have commented on ABG shares. Craig Hallum cut their price target on shares of Asbury Automotive Group from $250.00 to $225.00 in a research note on Wednesday, February 16th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Monday, May 9th. StockNews.com started coverage on shares of Asbury Automotive Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday, April 7th. Finally, Morgan Stanley raised their target price on shares of Asbury Automotive Group from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $215.00.

About Asbury Automotive Group (Get Rating)

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.

Further Reading