Financial Strategies Group Inc. Buys 448 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Financial Strategies Group Inc. grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 22.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,444 shares of the company’s stock after purchasing an additional 448 shares during the quarter. Financial Strategies Group Inc.’s holdings in Asbury Automotive Group were worth $581,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABG. Assenagon Asset Management S.A. increased its holdings in Asbury Automotive Group by 366.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock valued at $45,233,000 after purchasing an additional 148,910 shares during the period. Natixis Advisors LLC purchased a new position in shares of Asbury Automotive Group during the 3rd quarter worth approximately $26,573,000. International Assets Investment Management LLC purchased a new position in shares of Asbury Automotive Group during the 3rd quarter worth approximately $154,270,000. Rockefeller Capital Management L.P. purchased a new position in shares of Asbury Automotive Group during the 3rd quarter worth approximately $14,219,000. Finally, Stifel Financial Corp grew its holdings in shares of Asbury Automotive Group by 1,990.9% during the 3rd quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after acquiring an additional 18,973 shares during the period.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Craig Hallum boosted their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America dropped their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $255.20.

Asbury Automotive Group Price Performance

Shares of ABG opened at $296.65 on Monday. The firm has a market cap of $5.81 billion, a PE ratio of 13.79 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $254.15 and a two-hundred day simple moving average of $243.08. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $312.56.

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.