Texas Yale Capital Corp. maintained its stake in shares of CBRE Group, Inc. (NYSE:CBG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the financial services provider’s stock at the end of the second quarter. Texas Yale Capital Corp.’s holdings in CBRE Group were worth $946,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of CBG. State of Alaska Department of Revenue acquired a new stake in CBRE Group during the first quarter valued at about $116,000. Harbour Capital Advisors LLC acquired a new stake in CBRE Group during the first quarter valued at about $118,000. Pettee Investors Inc. acquired a new stake in CBRE Group during the first quarter valued at about $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in CBRE Group during the first quarter valued at about $206,000. Finally, Harbor Advisors LLC acquired a new stake in CBRE Group during the first quarter valued at about $209,000. Institutional investors and hedge funds own 96.84% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) opened at 35.24 on Friday. The stock’s 50 day moving average price is $36.98 and its 200 day moving average price is $35.25. CBRE Group, Inc. has a 12-month low of $25.40 and a 12-month high of $38.99. The firm has a market cap of $11.88 billion, a PE ratio of 17.20 and a beta of 1.83.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.
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Several research firms have recently issued reports on CBG. BidaskClub cut CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Barclays PLC raised their price objective on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG began 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. Finally, Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. CBRE Group presently has an average rating of “Hold” and an average price target of $39.60.
In other CBRE Group news, insider Michael J. Lafitte sold 15,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 369,774 shares of the company’s stock, valued at approximately $13,689,033.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Concannon sold 20,000 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $38.09, for a total transaction of $761,800.00. Following the sale, 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. Over the last three months, insiders have sold 189,873 shares of company stock worth $6,920,897. Company insiders own 1.00% 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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