BB&T Securities LLC lowered its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 79.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,054 shares of the financial services provider’s stock after selling 839,136 shares during the period. BB&T Securities LLC owned 0.07% of CBRE Group worth $8,119,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in CBG. State of Alaska Department of Revenue bought a new position in shares of CBRE Group during the first quarter valued at approximately $116,000. Harbour Capital Advisors LLC bought a new position in shares of CBRE Group during the first quarter valued at approximately $118,000. Pettee Investors Inc. bought a new position in shares of CBRE Group during the first quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of CBRE Group during the first quarter valued at approximately $206,000. Finally, Harbor Advisors LLC bought a new position in shares of CBRE Group during the first quarter valued at approximately $209,000. Institutional investors own 96.84% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) opened at 35.24 on Friday. The stock has a 50 day moving average of $36.98 and a 200 day moving average of $35.25. The firm has a market cap of $11.88 billion, a P/E ratio of 17.20 and a beta of 1.83. CBRE Group, Inc. has a 52 week low of $25.40 and a 52 week high of $38.99.
CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates 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 was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. Equities analysts forecast that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
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Several equities analysts have commented on the company. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Barclays PLC increased their price target on CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG assumed coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target on the stock. Finally, Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $39.60.
In related news, insider Robert E. Sulentic sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total transaction of $3,231,900.00. Following the transaction, the insider now directly owns 833,590 shares of the company’s stock, valued at approximately $29,934,216.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Concannon sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the transaction, the chief executive officer now directly owns 233,896 shares in the company, valued at $8,909,098.64. The disclosure for this sale can be found here. Insiders have sold a total of 189,873 shares of company stock worth $6,920,897 over the last three months. 1.00% of the stock is 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.
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