BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in CBRE Group, Inc. (CBG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in CBRE Group, Inc. (NYSE:CBG) by 70.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 313,724 shares of the financial services provider’s stock after purchasing an additional 130,144 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of CBRE Group worth $11,884,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Invictus RG bought a new position in CBRE Group in the 3rd quarter valued at approximately $104,000. GQG Partners LLC bought a new position in CBRE Group in the 2nd quarter valued at approximately $122,000. BB&T Investment Services Inc. bought a new position in CBRE Group in the 2nd quarter valued at approximately $125,000. Massey Quick Simon & CO. LLC bought a new position in CBRE Group in the 3rd quarter valued at approximately $193,000. Finally, Advisor Group Inc. lifted its stake in CBRE Group by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 337 shares during the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on CBG. Barclays increased their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Bank of America increased their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. CBRE Group presently has a consensus rating of “Hold” and an average price target of $40.33.

In other news, insider Robert E. Sulentic sold 45,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $43.16, for a total transaction of $1,942,200.00. Following the completion of the transaction, the insider now owns 637,971 shares of the company’s stock, valued at $27,534,828.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $40.04, for a total transaction of $1,001,000.00. Following the transaction, the insider now directly owns 246,473 shares of the company’s stock, valued at approximately $9,868,778.92. The disclosure for this sale can be found here. Insiders have sold 8,522,972 shares of company stock valued at $326,340,909 in the last ninety days. Insiders own 1.00% of the company’s stock.

CBRE Group, Inc. (CBG) opened at $43.62 on Friday. The company has a market cap of $14,807.20, a P/E ratio of 16.46, a P/E/G ratio of 1.26 and a beta of 1.86. CBRE Group, Inc. has a 52 week low of $29.69 and a 52 week high of $44.04. 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 released its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. equities analysts expect that CBRE Group, Inc. will post 2.67 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for CBRE Group (NYSE:CBG)

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