Handelsbanken Fonder AB Boosts Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Handelsbanken Fonder AB increased its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 13.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,851 shares of the company’s stock after buying an additional 700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Asbury Automotive Group were worth $1,422,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. New York State Common Retirement Fund increased its holdings in Asbury Automotive Group by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 66,645 shares of the company’s stock worth $16,197,000 after acquiring an additional 389 shares during the period. Venturi Wealth Management LLC grew its position in shares of Asbury Automotive Group by 28.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,408 shares of the company’s stock valued at $342,000 after purchasing an additional 315 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Asbury Automotive Group by 54.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,979 shares of the company’s stock worth $481,000 after buying an additional 696 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Asbury Automotive Group by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 94,995 shares of the company’s stock worth $23,087,000 after buying an additional 788 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Asbury Automotive Group by 3.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 8,381 shares of the company’s stock valued at $2,037,000 after buying an additional 254 shares during the period.

Asbury Automotive Group Stock Down 1.1 %

Shares of ABG opened at $272.57 on Thursday. The firm has a market cap of $5.34 billion, a P/E ratio of 12.67 and a beta of 1.20. Asbury Automotive Group, Inc. has a 1 year low of $202.98 and a 1 year high of $312.56. The stock has a 50 day simple moving average of $266.43 and a two-hundred day simple moving average of $248.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Insider Activity

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABG has been the topic of a number of research analyst reports. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Stephens upped their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $264.00.

Asbury Automotive Group Company 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.