Psagot Investment House Ltd. trimmed its position in shares of CBRE Group, Inc. (NYSE:CBG) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,361 shares of the financial services provider’s stock after selling 860 shares during the quarter. Psagot Investment House Ltd.’s holdings in CBRE Group were worth $2,124,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC acquired a new position in shares of CBRE Group during the first quarter worth approximately $118,000. GQG Partners LLC acquired a new position in shares of CBRE Group during the second quarter worth approximately $122,000. Advisor Group Inc. raised its position in shares of CBRE Group by 6.6% during the second quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 337 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of CBRE Group during the first quarter worth approximately $206,000. Finally, Harbor Advisors LLC acquired a new position in shares of CBRE Group during the first quarter worth approximately $209,000. 95.66% of the stock is currently owned by institutional investors.
In related news, CEO William F. Concannon sold 25,000 shares of CBRE Group stock in a transaction 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 accessible through this hyperlink. Also, EVP Laurence H. Midler sold 3,139 shares of CBRE Group stock in a transaction on Friday, September 8th. The stock was sold at an average price of $36.00, for a total value of $113,004.00. Following the completion of the sale, the executive vice president now directly owns 90,541 shares of the company’s stock, valued at approximately $3,259,476. The disclosure for this sale can be found here. Insiders sold 5,715,787 shares of company stock valued at $205,347,397 in the last 90 days. Company insiders own 1.00% of the company’s stock.
CBG has been the topic of a number of research reports. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, July 7th. Barclays PLC upped their price target on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 price target on shares of CBRE Group in a report on Friday, July 21st. UBS AG began 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. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.60.
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CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.12. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last 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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