CBRE Group, Inc. (CBG) Position Boosted by Sarasin & Partners LLP

Sarasin & Partners LLP boosted its position in shares of CBRE Group, Inc. (NYSE:CBG) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 68,339 shares of the financial services provider’s stock after buying an additional 1,059 shares during the period. Sarasin & Partners LLP’s holdings in CBRE Group were worth $2,488,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in CBRE Group by 3,425.0% in the first quarter. BlackRock Inc. now owns 19,371,641 shares of the financial services provider’s stock worth $673,940,000 after buying an additional 18,822,095 shares in the last quarter. Morgan Stanley boosted its stake in CBRE Group by 181.3% in the first quarter. Morgan Stanley now owns 3,415,279 shares of the financial services provider’s stock worth $118,818,000 after buying an additional 2,201,273 shares in the last quarter. Prudential Financial Inc. boosted its stake in CBRE Group by 264.7% in the first quarter. Prudential Financial Inc. now owns 1,624,719 shares of the financial services provider’s stock worth $56,523,000 after buying an additional 1,179,167 shares in the last quarter. Vanguard Group Inc. boosted its stake in CBRE Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,822,201 shares of the financial services provider’s stock worth $967,934,000 after buying an additional 1,024,363 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in CBRE Group by 102.7% in the first quarter. Russell Investments Group Ltd. now owns 1,107,938 shares of the financial services provider’s stock worth $38,545,000 after buying an additional 561,401 shares in the last quarter. Institutional investors and hedge funds own 96.84% of the company’s stock.

Shares of CBRE Group, Inc. (CBG) opened at 36.05 on Tuesday. CBRE Group, Inc. has a 1-year low of $25.40 and a 1-year high of $38.99. The firm has a market capitalization of $12.15 billion, a PE ratio of 17.59 and a beta of 1.83. The company has a 50-day moving average of $37.11 and a 200-day moving average of $35.18.

CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities research analysts predict that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.

WARNING: “[[title]]” was published by [[site]] and is the sole property of of [[site]]. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at [[permalink]].

CBG has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Monday, April 17th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC lifted their target price on shares of CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Finally, UBS AG began coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price for the company. 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. CBRE Group presently has an average rating of “Hold” and a consensus price target of $39.40.

In other CBRE Group news, CFO Gil Borok sold 25,627 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $37.33, for a total value of $956,655.91. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Lafitte sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the transaction, the insider now owns 369,774 shares in the company, valued at $13,689,033.48. 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 currently owned by 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.

Want to see what other hedge funds are holding CBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBG).