Tributary Capital Management LLC held its position in shares of CBRE Group, Inc. (NYSE:CBG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,560 shares of the financial services provider’s stock at the end of the second quarter. Tributary Capital Management LLC’s holdings in CBRE Group were worth $1,804,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Paloma Partners Management Co increased its stake in CBRE Group by 1,236.6% in the first quarter. Paloma Partners Management Co now owns 100,188 shares of the financial services provider’s stock worth $3,485,000 after buying an additional 92,692 shares during the last quarter. State of Tennessee Treasury Department increased its stake in CBRE Group by 60.2% in the first quarter. State of Tennessee Treasury Department now owns 788,906 shares of the financial services provider’s stock worth $27,446,000 after buying an additional 296,381 shares during the last quarter. Logan Capital Management Inc. increased its stake in CBRE Group by 1.6% in the first quarter. Logan Capital Management Inc. now owns 239,634 shares of the financial services provider’s stock worth $8,337,000 after buying an additional 3,885 shares during the last quarter. Legal & General Group Plc increased its stake in CBRE Group by 5.2% in the first quarter. Legal & General Group Plc now owns 1,364,404 shares of the financial services provider’s stock worth $47,464,000 after buying an additional 67,496 shares during the last quarter. Finally, RWC Asset Management LLP increased its stake in CBRE Group by 60.3% in the first quarter. RWC Asset Management LLP now owns 393,273 shares of the financial services provider’s stock worth $13,682,000 after buying an additional 147,982 shares during the last quarter. Institutional investors own 96.44% of the company’s stock.
CBRE Group, Inc. (CBG) traded down 1.76% during midday trading on Tuesday, reaching $36.82. 1,631,947 shares of the company traded hands. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 17.97 and a beta of 1.83. The firm’s 50 day moving average price is $36.93 and its 200 day moving average price is $34.85. CBRE Group, Inc. has a 12 month low of $25.40 and a 12 month high of $38.99.
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 for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business posted $0.52 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts expect that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
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CBG has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price target on shares of CBRE Group in a research report on Friday, July 21st. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a research report on Monday, April 17th. UBS AG assumed coverage on shares of CBRE Group in a research report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Barclays PLC upped their price objective on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.40.
In other news, CFO Gil Borok sold 25,627 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $37.33, for a total transaction of $956,655.91. Following the sale, the chief financial officer now directly owns 76,651 shares in the company, valued at $2,861,381.83. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William F. Concannon sold 15,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $36.57, for a total value of $548,550.00. Following the sale, the chief executive officer now owns 238,376 shares in the company, valued at $8,717,410.32. The disclosure for this sale can be found here. Insiders sold a total of 75,627 shares of company stock worth $2,822,306 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
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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