Principal Financial Group Inc. Reduces Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Principal Financial Group Inc. decreased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 159,144 shares of the company’s stock after selling 320 shares during the quarter. Principal Financial Group Inc.’s holdings in Asbury Automotive Group were worth $31,310,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. grew its position in shares of Asbury Automotive Group by 86.2% in the second quarter. Advisor Group Holdings Inc. now owns 1,709 shares of the company’s stock valued at $293,000 after purchasing an additional 791 shares during the period. HighTower Advisors LLC boosted its holdings in Asbury Automotive Group by 175.8% in the second quarter. HighTower Advisors LLC now owns 4,777 shares of the company’s stock valued at $818,000 after acquiring an additional 3,045 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Asbury Automotive Group by 23,400.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 470 shares of the company’s stock valued at $81,000 after acquiring an additional 468 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Asbury Automotive Group by 49.9% in the second quarter. Rafferty Asset Management LLC now owns 5,713 shares of the company’s stock valued at $979,000 after acquiring an additional 1,903 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Asbury Automotive Group by 1,000.0% in the second quarter. Rockefeller Capital Management L.P. now owns 220 shares of the company’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. 86.78% of the stock is owned by institutional investors.

Shares of NYSE ABG opened at $167.21 on Friday. Asbury Automotive Group, Inc. has a 1 year low of $137.96 and a 1 year high of $230.96. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 0.31 and a beta of 1.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.12 and a current ratio of 1.75. The stock’s 50-day simple moving average is $170.33 and its 200-day simple moving average is $182.13.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Monday, October 25th. The company reported $7.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.36 by $1.00. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.27 billion. Asbury Automotive Group had a return on equity of 43.39% and a net margin of 5.11%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.08 earnings per share. As a group, research analysts predict that Asbury Automotive Group, Inc. will post 25.65 EPS for the current year.

ABG has been the topic of a number of research analyst reports. Truist Financial upgraded Asbury Automotive Group to a “buy” rating and set a $250.00 target price on the stock in a report on Thursday, September 30th. Craig Hallum lifted their target price on Asbury Automotive Group from $230.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 30th. Truist upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $210.00 to $250.00 in a research note on Thursday, September 30th. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $200.00 price objective on the stock in a research note on Tuesday, January 4th. Finally, Morgan Stanley reduced their price objective on Asbury Automotive Group from $205.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 17th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of “Buy” and an average target price of $217.86.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc operates as a holding company, which engages in the automotive dealership. Its services include oil change, car brakes, changing tires, check engine light, battery, and wheel alignment. The company was founded in 1995 and is headquartered in Duluth, GA.

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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