As Asbury Automotive Group (ABG) Stock Declined, Shareholder Burgundy Asset Management LTD Trimmed Position; As Schwab Charles (SCHW) Stock Declined, Pettee Investors Increased Stake by $863,440

January 20, 2018 - By Stephen Andrade

Burgundy Asset Management Ltd decreased its stake in Asbury Automotive Group Inc. (ABG) by 17.68% based on its latest 2017Q3 regulatory filing with the SEC. Burgundy Asset Management Ltd sold 176,806 shares as the company’s stock declined 15.17% while stock markets rallied. The institutional investor held 823,473 shares of the automotive aftermarket company at the end of 2017Q3, valued at $50.31 million, down from 1.00M at the end of the previous reported quarter. Burgundy Asset Management Ltd who had been investing in Asbury Automotive Group Inc. for a number of months, seems to be less bullish one the $1.54B market cap company. The stock increased 1.44% or $1.05 during the last trading session, reaching $73.9. About 252,727 shares traded. Asbury Automotive Group, Inc. (NYSE:ABG) has risen 7.55% since January 20, 2017 and is uptrending. It has underperformed by 9.15% the S&P500.

Pettee Investors Inc increased its stake in Schwab Charles (SCHW) by 124.47% based on its latest 2017Q3 regulatory filing with the SEC. Pettee Investors Inc bought 20,080 shares as the company’s stock declined 7.92% while stock markets rallied. The institutional investor held 36,213 shares of the investment bankers and brokers and service company at the end of 2017Q3, valued at $1.58 million, up from 16,133 at the end of the previous reported quarter. Pettee Investors Inc who had been investing in Schwab Charles for a number of months, seems to be bullish on the $74.38 billion market cap company. The stock increased 0.27% or $0.15 during the last trading session, reaching $55.48. About 7.44M shares traded or 21.26% up from the average. The Charles Schwab Corporation (NYSE:SCHW) has risen 32.11% since January 20, 2017 and is uptrending. It has outperformed by 15.41% the S&P500.

Burgundy Asset Management Ltd, which manages about $19.85B and $10.56 billion US Long portfolio, upped its stake in Mcdonald’s Corp. (NYSE:MCD) by 6,847 shares to 1.41M shares, valued at $221.65 million in 2017Q3, according to the filing. It also increased its holding in Amerisourcebergen Corp. (NYSE:ABC) by 49,825 shares in the quarter, for a total of 2.70 million shares, and has risen its stake in Brown & Brown Inc. (NYSE:BRO).

Analysts await Asbury Automotive Group, Inc. (NYSE:ABG) to report earnings on February, 6. They expect $1.60 earnings per share, up 2.56% or $0.04 from last year’s $1.56 per share. ABG’s profit will be $33.30 million for 11.55 P/E if the $1.60 EPS becomes a reality. After $1.48 actual earnings per share reported by Asbury Automotive Group, Inc. for the previous quarter, Wall Street now forecasts 8.11% EPS growth.

Among 7 analysts covering Asbury Automotive (NYSE:ABG), 2 have Buy rating, 1 Sell and 4 Hold. Therefore 29% are positive. Asbury Automotive had 21 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was upgraded by Bank of America to “Neutral” on Wednesday, September 30. The firm has “Underperform” rating given on Wednesday, July 22 by Bank of America. As per Tuesday, September 8, the company rating was upgraded by Craig Hallum. On Tuesday, January 12 the stock rating was downgraded by Craig Hallum to “Hold”. The firm earned “Neutral” rating on Monday, August 31 by Buckingham Research. KeyBanc Capital Markets maintained the shares of ABG in report on Tuesday, October 3 with “Hold” rating. The stock has “Hold” rating by Jefferies on Monday, April 11. Jefferies maintained Asbury Automotive Group, Inc. (NYSE:ABG) on Friday, June 2 with “Hold” rating. As per Monday, October 26, the company rating was downgraded by BB&T Capital. On Thursday, August 31 the stock rating was maintained by KeyBanc Capital Markets with “Hold”.

Since August 4, 2017, it had 0 buys, and 5 insider sales for $14.02 million activity. Stax William Frederick had sold 495 shares worth $26,854. MSD CAPITAL LP sold $5.38M worth of stock. On Friday, October 27 MONAGHAN CRAIG T sold $2.94M worth of Asbury Automotive Group, Inc. (NYSE:ABG) or 48,288 shares. Another trade for 104,949 shares valued at $5.38 million was sold by ALSFINE JOEL.

Investors sentiment decreased to 0.91 in 2017 Q3. Its down 0.12, from 1.03 in 2017Q2. It worsened, as 18 investors sold ABG shares while 52 reduced holdings. 19 funds opened positions while 45 raised stakes. 20.68 million shares or 2.75% less from 21.26 million shares in 2017Q2 were reported. State Common Retirement Fund holds 0% or 25,560 shares. Hutchin Hill Lp invested in 0.02% or 9,700 shares. 42,636 were reported by Rhumbline Advisers. State Bank Of Mellon has 265,003 shares for 0% of their portfolio. Comerica Commercial Bank owns 19,568 shares or 0.01% of their US portfolio. Burgundy Asset Limited owns 0.48% invested in Asbury Automotive Group, Inc. (NYSE:ABG) for 823,473 shares. Moreover, Bluecrest Cap Management Ltd has 0.11% invested in Asbury Automotive Group, Inc. (NYSE:ABG). Vanguard Gp Inc holds 0.01% of its portfolio in Asbury Automotive Group, Inc. (NYSE:ABG) for 1.76 million shares. Envestnet Asset has invested 0% in Asbury Automotive Group, Inc. (NYSE:ABG). Swiss Bancorp reported 31,700 shares stake. Northern Corporation has invested 0% in Asbury Automotive Group, Inc. (NYSE:ABG). Voya Inv Mgmt Ltd Liability Corporation accumulated 9,492 shares. Legal & General Group Pcl invested in 54,203 shares or 0% of the stock. Schwab Charles Inv Mgmt Incorporated reported 195,424 shares. Bogle Investment Mngmt Ltd Partnership De holds 0.03% in Asbury Automotive Group, Inc. (NYSE:ABG) or 7,750 shares.

Among 23 analysts covering Charles Schwab (NYSE:SCHW), 15 have Buy rating, 0 Sell and 8 Hold. Therefore 65% are positive. Charles Schwab had 85 analyst reports since August 11, 2015 according to SRatingsIntel. The company was downgraded on Friday, January 19 by Citigroup. The firm earned “Buy” rating on Wednesday, April 12 by Nomura. Suntrust Robinson maintained The Charles Schwab Corporation (NYSE:SCHW) on Wednesday, December 27 with “Buy” rating. The stock of The Charles Schwab Corporation (NYSE:SCHW) earned “Buy” rating by Nomura on Monday, July 11. Keefe Bruyette & Woods maintained The Charles Schwab Corporation (NYSE:SCHW) rating on Wednesday, January 17. Keefe Bruyette & Woods has “Buy” rating and $61.0 target. The rating was maintained by SunTrust with “Buy” on Thursday, December 14. The company was maintained on Friday, October 16 by UBS. The rating was initiated by Keefe Bruyette & Woods on Thursday, December 8 with “Outperform”. The stock has “Buy” rating by Deutsche Bank on Friday, September 18. The firm earned “Buy” rating on Thursday, April 7 by Jefferies.

Since August 2, 2017, it had 0 insider buys, and 18 sales for $48.08 million activity. Kallsen Terri R also sold $86,137 worth of The Charles Schwab Corporation (NYSE:SCHW) on Wednesday, August 2. 290,000 The Charles Schwab Corporation (NYSE:SCHW) shares with value of $12.55M were sold by SCHWAB CHARLES R. Clark Bernard J. sold $3.31 million worth of The Charles Schwab Corporation (NYSE:SCHW) on Wednesday, September 27. Another trade for 23,207 shares valued at $998,528 was sold by BECHTLE NANCY H. Murtagh Nigel J had sold 8,000 shares worth $361,194 on Tuesday, October 31.

Pettee Investors Inc, which manages about $116.14M and $154.79 million US Long portfolio, decreased its stake in Equifax (NYSE:EFX) by 5,130 shares to 2,368 shares, valued at $251,000 in 2017Q3, according to the filing.

Investors sentiment decreased to 1.03 in 2017 Q3. Its down 0.27, from 1.3 in 2017Q2. It dropped, as 41 investors sold SCHW shares while 299 reduced holdings. 75 funds opened positions while 275 raised stakes. 1.04 billion shares or 0.62% less from 1.05 billion shares in 2017Q2 were reported. Canada Pension Plan Invest Board accumulated 340,639 shares. 237,801 were accumulated by Sumitomo Mitsui Asset Mngmt. Shell Asset Mgmt, a Netherlands-based fund reported 205,154 shares. Natixis reported 147,738 shares. Amundi Pioneer Asset Mgmt holds 0.68% of its portfolio in The Charles Schwab Corporation (NYSE:SCHW) for 4.89M shares. Moreover, Cwh Mgmt has 3.18% invested in The Charles Schwab Corporation (NYSE:SCHW) for 148,096 shares. Lord Abbett Ltd Liability Com reported 0.22% stake. Nj State Employees Deferred Compensation Plan invested in 0.2% or 25,000 shares. Nbt Financial Bank N A New York invested 0.03% of its portfolio in The Charles Schwab Corporation (NYSE:SCHW). Greatmark Inv Incorporated reported 7,000 shares or 0.12% of all its holdings. Caisse De Depot Et Placement Du Quebec reported 0.01% of its portfolio in The Charles Schwab Corporation (NYSE:SCHW). Toth Advisory holds 0.2% or 18,106 shares in its portfolio. Alpine Woods Capital Invsts Limited Liability Co has 0.02% invested in The Charles Schwab Corporation (NYSE:SCHW). Millennium Management Ltd Co invested in 102,808 shares. First Financial In holds 17,851 shares or 0.51% of its portfolio.

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