Greystone Managed Investments Inc. trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,550 shares of the financial services provider’s stock after selling 12,957 shares during the period. Greystone Managed Investments Inc. owned about 0.07% of CBRE Group worth $8,695,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in CBG. Janus Henderson Group PLC lifted its position in CBRE Group by 13,158.3% during the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock valued at $208,691,000 after buying an additional 5,690,048 shares in the last quarter. Alliancebernstein L.P. lifted its position in CBRE Group by 273.3% during the second quarter. Alliancebernstein L.P. now owns 3,275,845 shares of the financial services provider’s stock valued at $119,241,000 after buying an additional 2,398,384 shares in the last quarter. AJO LP lifted its position in CBRE Group by 314.1% during the second quarter. AJO LP now owns 2,887,891 shares of the financial services provider’s stock valued at $105,119,000 after buying an additional 2,190,476 shares in the last quarter. Prudential Financial Inc. lifted its position in CBRE Group by 123.2% during the second quarter. Prudential Financial Inc. now owns 3,626,928 shares of the financial services provider’s stock valued at $132,020,000 after buying an additional 2,002,209 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in CBRE Group by 4.6% during the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock valued at $1,059,662,000 after buying an additional 1,289,368 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Valueact Capital Master Fund, sold 5,500,000 shares of CBRE Group stock in a transaction on Friday, September 15th. The shares were sold at an average price of $35.90, for a total value of $197,450,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $975,500.00. The disclosure for this sale can be found here. Insiders have sold 5,620,099 shares of company stock worth $202,124,385 in the last quarter. Insiders own 1.00% of the company’s stock.
CBRE Group, Inc. (NYSE:CBG) traded down $0.21 on Monday, hitting $42.78. 1,579,500 shares of the stock were exchanged, compared to its average volume of 1,971,638. The stock has a market capitalization of $14,520.00, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.23 and a beta of 1.83. CBRE Group, Inc. has a 12 month low of $28.21 and a 12 month high of $43.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. analysts forecast that CBRE Group, Inc. will post 2.67 earnings per share for the current year.
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A number of research analysts have weighed in on the stock. Bank of America Corporation lifted their price target on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. UBS AG assumed coverage on shares of CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research report on Wednesday, August 2nd. Barclays PLC lifted their price target on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Finally, BidaskClub cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.33.
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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