Voya Investment Management LLC lessened its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,423 shares of the financial services provider’s stock after selling 22,701 shares during the quarter. Voya Investment Management LLC owned about 0.05% of CBRE Group worth $6,385,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CBG. UBS Asset Management Americas Inc. raised its stake in CBRE Group by 17.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 846,298 shares of the financial services provider’s stock valued at $29,443,000 after purchasing an additional 122,807 shares during the period. Sei Investments Co. raised its stake in CBRE Group by 13.4% during the 1st quarter. Sei Investments Co. now owns 6,950 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 819 shares during the period. Teachers Advisors LLC raised its stake in CBRE Group by 1.4% during the 1st quarter. Teachers Advisors LLC now owns 436,648 shares of the financial services provider’s stock valued at $15,191,000 after purchasing an additional 6,036 shares during the period. Ngam Advisors L.P. raised its stake in CBRE Group by 3.3% during the 1st quarter. Ngam Advisors L.P. now owns 218,481 shares of the financial services provider’s stock valued at $7,601,000 after purchasing an additional 6,998 shares during the period. Finally, Cleararc Capital Inc. raised its stake in CBRE Group by 0.8% during the 1st quarter. Cleararc Capital Inc. now owns 7,343 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 56 shares during the period. 95.66% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the company. Barclays PLC lifted their target price on CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG assumed coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target for the company. BidaskClub cut CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of CBRE Group in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.60.
In related news, CEO William F. Concannon sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $39.02, for a total value of $975,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Concannon sold 20,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the transaction, the chief executive officer now owns 233,896 shares of the company’s stock, valued at $8,909,098.64. The disclosure for this sale can be found here. Insiders sold 5,715,787 shares of company stock valued at $205,347,397 over the last 90 days. Company insiders own 1.00% of the company’s stock.
CBRE Group, Inc. (NYSE:CBG) opened at 39.06 on Wednesday. CBRE Group, Inc. has a one year low of $25.40 and a one year high of $39.09. The stock has a market cap of $13.16 billion, a PE ratio of 19.06 and a beta of 1.82. The stock has a 50 day moving average price of $37.00 and a 200-day moving average price of $35.88.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Equities research analysts expect that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.
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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