Louisiana State Employees Retirement System Has $2.31 Million Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Louisiana State Employees Retirement System reduced its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,500 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Asbury Automotive Group were worth $2,309,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Stephens Inc. AR acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth approximately $213,000. Entropy Technologies LP bought a new position in shares of Asbury Automotive Group in the fourth quarter valued at approximately $219,000. Empowered Funds LLC raised its position in shares of Asbury Automotive Group by 27.4% in the fourth quarter. Empowered Funds LLC now owns 6,856 shares of the company’s stock valued at $1,666,000 after purchasing an additional 1,476 shares during the period. Financial Strategies Group Inc. raised its position in shares of Asbury Automotive Group by 22.4% in the fourth quarter. Financial Strategies Group Inc. now owns 2,444 shares of the company’s stock valued at $581,000 after purchasing an additional 448 shares during the period. Finally, Highland Capital Management LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter valued at approximately $216,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of 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. Stephens lifted their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Craig Hallum upgraded shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $264.00.

Asbury Automotive Group Stock Up 1.1 %

Shares of NYSE ABG opened at $303.01 on Friday. The firm’s 50-day simple moving average is $261.34 and its 200 day simple moving average is $246.53. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 14.09 and a beta of 1.20. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 12-month low of $202.98 and a 12-month high of $312.56.

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.