Magnetar Financial LLC Invests $216,000 in CBRE Group Inc (CBG) Stock

Magnetar Financial LLC bought a new stake in shares of CBRE Group Inc (NYSE:CBG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,704 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invictus RG acquired a new position in CBRE Group during the third quarter valued at $104,000. GQG Partners LLC acquired a new position in CBRE Group during the second quarter valued at $122,000. BB&T Investment Services Inc. acquired a new position in shares of CBRE Group in the second quarter worth about $125,000. Massey Quick Simon & CO. LLC acquired a new position in shares of CBRE Group in the third quarter worth about $193,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new position in shares of CBRE Group in the third quarter worth about $201,000. Institutional investors own 95.00% of the company’s stock.

In other CBRE Group news, CEO William F. Concannon sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $39.02, for a total value of $975,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Valueact Capital Master Fund, sold 882,206 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total transaction of $37,793,705.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,049,872 shares of company stock valued at $130,055,941. Insiders own 1.00% of the company’s stock.

CBRE Group Inc (NYSE CBG) opened at $43.25 on Friday. The firm has a market cap of $14,680.00, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.25 and a beta of 1.86. CBRE Group Inc has a 1 year low of $29.69 and a 1 year 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 issued its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. The business 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 was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. sell-side analysts expect that CBRE Group Inc will post 2.67 EPS for the current year.

Separately, Bank of America upped their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. CBRE Group presently has a consensus rating of “Hold” and a consensus price target of $40.33.

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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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