Asbury Automotive Group, Inc. (NYSE:ABG) Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,386 shares of the company’s stock after selling 2,947 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Asbury Automotive Group worth $6,656,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ABG. Madison Investment Advisors LLC acquired a new position in shares of Asbury Automotive Group in the 4th quarter worth $82,426,000. Norges Bank purchased a new position in Asbury Automotive Group in the 4th quarter worth about $82,079,000. Artisan Partners Limited Partnership purchased a new position in Asbury Automotive Group in the 4th quarter worth about $51,118,000. JPMorgan Chase & Co. lifted its stake in Asbury Automotive Group by 18.9% during the fourth quarter. JPMorgan Chase & Co. now owns 186,306 shares of the company’s stock valued at $45,278,000 after buying an additional 29,579 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Asbury Automotive Group in the fourth quarter worth about $5,316,000.

Insider Activity at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ABG has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of 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. Stephens increased their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, Craig Hallum downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and an average target price of $263.00.

Asbury Automotive Group Trading Up 1.6 %

Asbury Automotive Group stock opened at $215.99 on Tuesday. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.24 billion, a P/E ratio of 10.04 and a beta of 1.04. The company’s fifty day simple moving average is $261.81 and its 200-day simple moving average is $250.76.

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.