Bank of The West lowered its position in shares of CBRE Group, Inc. (NYSE:CBG) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,610 shares of the financial services provider’s stock after selling 3,730 shares during the period. Bank of The West’s holdings in CBRE Group were worth $968,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CBG. State of Alaska Department of Revenue acquired a new position in shares of CBRE Group during the first quarter worth about $116,000. Harbour Capital Advisors LLC acquired a new position in shares of CBRE Group during the first quarter worth about $118,000. Pettee Investors Inc. acquired a new position in shares of CBRE Group during the first quarter worth about $203,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of CBRE Group during the first quarter worth about $206,000. Finally, Harbor Advisors LLC acquired a new position in shares of CBRE Group during the first quarter worth about $209,000. Institutional investors own 96.11% of the company’s stock.
CBRE Group, Inc. (NYSE:CBG) opened at 36.89 on Thursday. The stock has a market cap of $12.43 billion, a P/E ratio of 20.17 and a beta of 1.83. CBRE Group, Inc. has a one year low of $25.04 and a one year high of $37.47. The company’s 50-day moving average price is $34.98 and its 200-day moving average price is $33.86.
CBRE Group (NYSE:CBG) last announced 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 business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.91 billion. CBRE Group had a net margin of 4.69% and a return on equity of 26.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. Analysts forecast that CBRE Group, Inc. will post $2.42 EPS for the current fiscal year.
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A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, July 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of CBRE Group in a report on Tuesday, May 30th. Finally, Wedbush restated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Monday, April 17th.
In other CBRE Group news, CEO William F. Concannon sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $36.57, for a total value of $548,550.00. Following the completion of the sale, the chief executive officer now owns 238,376 shares of the company’s stock, valued at $8,717,410.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.
About CBRE Group
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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