CBRE Group, Inc. (NYSE:CBG) shares reached a new 52-week high on Tuesday . The stock traded as high as $38.52 and last traded at $38.47, with a volume of 541,731 shares. The stock had previously closed at $38.29.
CBG has been the topic of a number of recent research reports. BidaskClub cut CBRE Group from a “hold” rating to a “sell” rating in a report on Friday. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG initiated coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a report on Friday, July 21st. Finally, Barclays PLC increased their price objective on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $39.40.
The company has a market cap of $12.05 billion, a price-to-earnings ratio of 17.46 and a beta of 1.83. The stock has a 50 day moving average price of $37.09 and a 200 day moving average price of $35.07.
CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Equities analysts expect that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.
In other CBRE Group news, CFO Gil Borok sold 25,627 shares of the company’s stock in a transaction that occurred on 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 the SEC website. Also, CEO William F. Concannon sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $38.09, for a total value of $761,800.00. Following the sale, the chief executive officer now owns 233,896 shares in the company, valued at $8,909,098.64. The disclosure for this sale can be found here. Insiders sold 75,627 shares of company stock worth $2,822,306 over the last quarter. 1.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CBG. Vanguard Group Inc. increased its stake in shares of CBRE Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock worth $1,059,662,000 after buying an additional 1,289,368 shares during the period. BlackRock Inc. increased its stake in shares of CBRE Group by 6.1% in the second quarter. BlackRock Inc. now owns 20,546,977 shares of the financial services provider’s stock worth $747,911,000 after buying an additional 1,175,336 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CBRE Group by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 12,848,701 shares of the financial services provider’s stock worth $467,693,000 after buying an additional 1,006,321 shares during the period. State Street Corp increased its stake in shares of CBRE Group by 0.7% in the first quarter. State Street Corp now owns 12,216,341 shares of the financial services provider’s stock worth $425,001,000 after buying an additional 88,864 shares during the period. Finally, FMR LLC increased its stake in shares of CBRE Group by 10.6% in the second quarter. FMR LLC now owns 10,837,894 shares of the financial services provider’s stock worth $394,500,000 after buying an additional 1,040,182 shares during the period. Institutional investors and hedge funds own 96.44% of the company’s stock.
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.
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