Corebridge Financial Inc. Cuts Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Corebridge Financial Inc. cut its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,471 shares of the company’s stock after selling 1,147 shares during the quarter. Corebridge Financial Inc.’s holdings in Asbury Automotive Group were worth $2,545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of Asbury Automotive Group by 234.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after acquiring an additional 351 shares during the period. KBC Group NV raised its holdings in Asbury Automotive Group by 52.3% in the 4th quarter. KBC Group NV now owns 769 shares of the company’s stock worth $187,000 after purchasing an additional 264 shares during the period. Nisa Investment Advisors LLC boosted its position in Asbury Automotive Group by 17.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after purchasing an additional 123 shares in the last quarter. Stephens Inc. AR acquired a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $213,000. Finally, Highland Capital Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $216,000.

Asbury Automotive Group Trading Up 1.2 %

Shares of ABG opened at $220.78 on Tuesday. Asbury Automotive Group, Inc. has a 52-week low of $206.62 and a 52-week high of $312.56. The stock has a market cap of $4.34 billion, a PE ratio of 10.26 and a beta of 1.22. The firm’s fifty day moving average is $265.96 and its two-hundred day moving average is $250.86. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Stephens increased their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Asbury Automotive Group presently has a consensus rating of “Hold” and a consensus price target of $263.00.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

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.