US Bancorp DE Has $861,000 Stake in Asbury Automotive Group, Inc. $ABG

US Bancorp DE increased its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,608 shares of the company’s stock after buying an additional 68 shares during the quarter. US Bancorp DE’s holdings in Asbury Automotive Group were worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ABG. GAMMA Investing LLC increased its stake in shares of Asbury Automotive Group by 39.2% in the first quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock valued at $129,000 after buying an additional 165 shares during the period. Advisor Resource Council acquired a new position in shares of Asbury Automotive Group in the first quarter valued at approximately $455,000. Illinois Municipal Retirement Fund increased its stake in shares of Asbury Automotive Group by 73.2% in the first quarter. Illinois Municipal Retirement Fund now owns 18,820 shares of the company’s stock valued at $4,156,000 after buying an additional 7,953 shares during the period. Highland Capital Management LLC increased its stake in shares of Asbury Automotive Group by 23.8% in the first quarter. Highland Capital Management LLC now owns 1,099 shares of the company’s stock valued at $243,000 after buying an additional 211 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Asbury Automotive Group in the first quarter valued at approximately $262,000.

Analyst Upgrades and Downgrades

ABG has been the subject of several recent research reports. Stephens raised Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $225.00 to $277.00 in a research note on Wednesday, August 13th. Citigroup reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a research note on Thursday, September 25th. Morgan Stanley upped their price objective on Asbury Automotive Group from $225.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. upped their target price on Asbury Automotive Group from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, October 14th. Finally, Cfra set a $225.00 target price on Asbury Automotive Group in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group presently has an average rating of “Hold” and a consensus target price of $251.14.

Insiders Place Their Bets

In other Asbury Automotive Group news, SVP Jed Milstein sold 1,132 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total transaction of $286,690.32. Following the transaction, the senior vice president directly owned 11,267 shares in the company, valued at approximately $2,853,480.42. This represents a 9.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Juanita T. James sold 625 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $244.10, for a total value of $152,562.50. Following the transaction, the director owned 6,855 shares in the company, valued at $1,673,305.50. The trade was a 8.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,957 shares of company stock valued at $745,501 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $244.02 on Friday. The business’s 50 day simple moving average is $245.95 and its 200 day simple moving average is $236.81. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The stock has a market capitalization of $4.80 billion, a PE ratio of 8.91, a PEG ratio of 1.58 and a beta of 0.85. 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 posted its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.82 by $0.61. The firm had revenue of $4.37 billion for 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%.The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.40 EPS. As a group, research analysts forecast 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.