Illinois Municipal Retirement Fund Decreases Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Illinois Municipal Retirement Fund cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,618 shares of the company’s stock after selling 765 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.12% of Asbury Automotive Group worth $5,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABG. Foundry Partners LLC purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth $4,239,000. Federated Hermes Inc. lifted its holdings in Asbury Automotive Group by 34,097.0% during the 4th quarter. Federated Hermes Inc. now owns 11,285 shares of the company’s stock worth $2,539,000 after purchasing an additional 11,252 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Asbury Automotive Group by 21.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,938 shares of the company’s stock worth $886,000 after purchasing an additional 686 shares during the period. Mackenzie Financial Corp grew its holdings in Asbury Automotive Group by 50.9% during the 4th quarter. Mackenzie Financial Corp now owns 2,088 shares of the company’s stock valued at $470,000 after buying an additional 704 shares in the last quarter. Finally, Phocas Financial Corp. grew its holdings in Asbury Automotive Group by 1.5% during the 4th quarter. Phocas Financial Corp. now owns 34,058 shares of the company’s stock valued at $7,662,000 after buying an additional 506 shares in the last quarter.

Insider Transactions at Asbury Automotive Group

In related news, SVP Jed Milstein sold 3,955 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total value of $826,595.00. Following the transaction, the senior vice president now owns 8,300 shares of the company’s stock, valued at $1,734,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $222.41 on Wednesday. Asbury Automotive Group, Inc. has a 12-month low of $178.40 and a 12-month high of $256.39. The company has a current ratio of 1.06, a quick ratio of 0.45 and a debt-to-equity ratio of 0.96. The company has a market cap of $4.49 billion, a PE ratio of 7.78 and a beta of 1.18. The stock has a 50-day moving average price of $216.86 and a 200-day moving average price of $213.08.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Thursday, February 8th. The company reported $7.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.74 by ($0.62). The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.70 billion. Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.12 earnings per share. As a group, equities analysts forecast that Asbury Automotive Group, Inc. will post 31.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Craig Hallum lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Thursday, February 8th.

About Asbury Automotive Group

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.