ICICI Prudential Asset Management Co Ltd reduced its position in shares of CBRE Group Inc (NYSE:CBG) by 34.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,900 shares of the financial services provider’s stock after selling 5,800 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in CBRE Group were worth $413,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Invictus RG acquired a new stake in CBRE Group during the 3rd quarter worth $104,000. Fieldpoint Private Securities LLC acquired a new stake in CBRE Group during the 3rd quarter worth $104,000. GQG Partners LLC acquired a new stake in CBRE Group during the 2nd quarter worth $122,000. BB&T Investment Services Inc. acquired a new stake in CBRE Group during the 2nd quarter worth $125,000. Finally, Zions Bancorporation raised its stake in CBRE Group by 5,136.8% during the 3rd quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 3,493 shares in the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.
In other news, Director Frederic V. Malek sold 6,900 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $43.28, for a total transaction of $298,632.00. Following the transaction, the director now directly owns 267,446 shares in the company, valued at $11,575,062.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,529,872 shares of company stock worth $326,639,541. 1.00% of the stock is currently owned by company insiders.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 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%. CBRE Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. equities research analysts anticipate that CBRE Group Inc will post 2.67 EPS for the current year.
Separately, Bank of America lifted their price target on shares of CBRE Group from $42.00 to $44.00 and gave the stock 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 issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $40.33.
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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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