MetLife Investment Advisors LLC grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 100.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,058 shares of the company’s stock after purchasing an additional 9,029 shares during the period. MetLife Investment Advisors LLC owned approximately 0.09% of Asbury Automotive Group worth $1,219,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth $102,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Asbury Automotive Group during the 1st quarter worth $251,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Asbury Automotive Group during the 1st quarter worth $259,000. Koch Industries Inc. boosted its position in shares of Asbury Automotive Group by 29.5% during the 4th quarter. Koch Industries Inc. now owns 5,200 shares of the company’s stock worth $333,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Ellington Management Group LLC purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth $333,000.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Wednesday, May 16th. ValuEngine lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Morgan Stanley boosted their price objective on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 14th. Finally, Buckingham Research boosted their price objective on shares of Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.33.
Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, April 24th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Asbury Automotive Group had a net margin of 2.23% and a return on equity of 38.22%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. analysts forecast that Asbury Automotive Group, Inc. will post 7.81 EPS for the current fiscal year.
In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $73.51, for a total value of $1,102,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP George A. Villasana sold 13,263 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $73.38, for a total transaction of $973,238.94. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
About Asbury Automotive Group
Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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