Bank of New York Mellon Corp Has $94.82 Million Stake in CBRE Group, Inc. (CBG)

Bank of New York Mellon Corp decreased its position in CBRE Group, Inc. (NYSE:CBG) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,604,840 shares of the financial services provider’s stock after selling 231,663 shares during the period. Bank of New York Mellon Corp owned 0.77% of CBRE Group worth $94,816,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cleararc Capital Inc. increased its position in shares of CBRE Group by 0.8% in the first quarter. Cleararc Capital Inc. now owns 7,343 shares of the financial services provider’s stock worth $255,000 after buying an additional 56 shares during the period. Wetherby Asset Management Inc. increased its position in shares of CBRE Group by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 13,970 shares of the financial services provider’s stock worth $509,000 after buying an additional 93 shares during the period. CIBC Asset Management Inc increased its position in shares of CBRE Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 113 shares during the period. Advantus Capital Management Inc increased its position in shares of CBRE Group by 0.4% in the first quarter. Advantus Capital Management Inc now owns 30,100 shares of the financial services provider’s stock worth $1,047,000 after buying an additional 125 shares during the period. Finally, Arizona State Retirement System increased its position in shares of CBRE Group by 0.3% in the first quarter. Arizona State Retirement System now owns 74,443 shares of the financial services provider’s stock worth $2,590,000 after buying an additional 200 shares during the period. Institutional investors own 96.84% of the company’s stock.

Shares of CBRE Group, Inc. (CBG) opened at 35.36 on Friday. The firm has a market cap of $11.92 billion, a PE ratio of 17.26 and a beta of 1.83. CBRE Group, Inc. has a 1-year low of $25.40 and a 1-year high of $38.99. The company’s 50-day moving average price is $36.84 and its 200 day moving average price is $35.43.

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 Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that CBRE Group, Inc. will post $2.57 EPS for the current year.

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A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a research report on Friday, July 21st. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, July 7th. Barclays PLC raised their price objective on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, UBS AG assumed coverage on CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective for the company. One equities research 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’s stock. The company has an average rating of “Hold” and an average target price of $39.60.

In other news, EVP Laurence H. Midler sold 14,614 shares of CBRE Group stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $35.42, for a total transaction of $517,627.88. Following the completion of the sale, the executive vice president now owns 111,720 shares of the company’s stock, valued at $3,957,122.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gil Borok sold 25,627 shares of CBRE Group stock in a transaction that occurred on Friday, August 4th. The shares were 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 of the company’s stock, valued at approximately $2,861,381.83. The disclosure for this sale can be found here. Insiders have sold 217,648 shares of company stock valued at $7,912,743 in the last 90 days. 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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