Lakewood Capital Management LP lowered its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 18.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,839,361 shares of the financial services provider’s stock after selling 412,000 shares during the period. CBRE Group accounts for 2.7% of Lakewood Capital Management LP’s portfolio, making the stock its 15th largest position. Lakewood Capital Management LP owned about 0.55% of CBRE Group worth $63,991,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CBG. State of Alaska Department of Revenue acquired a new position in CBRE Group during the first quarter valued at $116,000. Pettee Investors Inc. acquired a new position in CBRE Group during the first quarter valued at $203,000. Cambridge Investment Research Advisors Inc. acquired a new position in CBRE Group during the first quarter valued at $206,000. King Luther Capital Management Corp acquired a new position in CBRE Group during the first quarter valued at $210,000. Finally, Smith Salley & Associates acquired a new position in CBRE Group during the first quarter valued at $227,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.
Shares of CBRE Group, Inc. (CBG) traded down 0.67% during midday trading on Tuesday, hitting $35.52. 592,202 shares of the stock were exchanged. The stock has a market cap of $11.97 billion, a P/E ratio of 19.42 and a beta of 1.79. CBRE Group, Inc. has a one year low of $24.11 and a one year high of $36.81. The stock’s 50-day moving average price is $35.02 and its 200 day moving average price is $33.65.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.91 billion. CBRE Group had a return on equity of 26.31% and a net margin of 4.69%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts anticipate that CBRE Group, Inc. will post $2.43 earnings per share for the current year.
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A number of equities research analysts have recently commented on CBG shares. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Tuesday, March 7th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of CBRE Group in a report on Thursday, March 16th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Monday, April 17th.
CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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