Corebridge Financial Inc. Has $2.27 Million Stock Holdings in Asbury Automotive Group, Inc. $ABG

Corebridge Financial Inc. lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,269 shares of the company’s stock after selling 202 shares during the period. Corebridge Financial Inc. owned 0.05% of Asbury Automotive Group worth $2,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABG. GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group by 30,639.2% in the first quarter. GAMMA Investing LLC now owns 129,412 shares of the company’s stock worth $285,790,000 after acquiring an additional 128,991 shares during the last quarter. Eminence Capital LP grew its stake in shares of Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock worth $191,453,000 after acquiring an additional 107,317 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Asbury Automotive Group in the first quarter worth $17,922,000. Magnolia Group LLC grew its stake in shares of Asbury Automotive Group by 50.6% in the first quarter. Magnolia Group LLC now owns 224,623 shares of the company’s stock worth $49,606,000 after acquiring an additional 75,500 shares during the last quarter. Finally, Voss Capital LP grew its stake in shares of Asbury Automotive Group by 43.7% in the first quarter. Voss Capital LP now owns 169,111 shares of the company’s stock worth $37,346,000 after acquiring an additional 51,411 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Stephens upgraded shares of Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $225.00 to $277.00 in a research note on Wednesday, August 13th. Morgan Stanley raised their price objective on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Bank of America raised their price objective on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Finally, Cfra set a $225.00 target price on Asbury Automotive Group in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $254.00.

Insider Buying and Selling

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of Asbury Automotive Group stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $244.10, for a total transaction of $152,562.50. Following the completion of the transaction, the director directly owned 6,855 shares of the company’s stock, valued at approximately $1,673,305.50. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jed Milstein sold 1,132 shares of Asbury Automotive Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total value of $286,690.32. Following the transaction, the senior vice president directly owned 11,267 shares of the company’s stock, valued at approximately $2,853,480.42. The trade was a 9.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,957 shares of company stock valued at $745,501 in the last ninety days. Insiders own 0.53% of the company’s stock.

Asbury Automotive Group Stock Up 0.8%

Shares of ABG stock opened at $253.47 on Wednesday. The stock has a market cap of $4.98 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The stock has a fifty day moving average price of $242.16 and a 200 day moving average price of $238.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.30 and a quick ratio of 0.49.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, topping the consensus estimate of $6.82 by $0.61. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.Asbury Automotive Group’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $6.40 earnings per share. Analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

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.