Aberdeen Asset Management PLC UK raised its stake in CBRE Group, Inc. (NYSE:CBG) by 113.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,136 shares of the financial services provider’s stock after acquiring an additional 63,805 shares during the quarter. Aberdeen Asset Management PLC UK’s holdings in CBRE Group were worth $4,373,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new position in CBRE Group in the first quarter valued at approximately $118,000. Pettee Investors Inc. acquired a new position in CBRE Group in the first quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. acquired a new position in CBRE Group in the first quarter valued at approximately $206,000. Harbor Advisors LLC acquired a new position in CBRE Group in the first quarter valued at approximately $209,000. Finally, King Luther Capital Management Corp acquired a new position in CBRE Group in the first quarter valued at approximately $210,000. 95.66% of the stock is owned by institutional investors.
Shares of CBRE Group, Inc. (NYSE CBG) opened at 36.62 on Friday. The stock has a market capitalization of $12.34 billion, a PE ratio of 17.87 and a beta of 1.83. CBRE Group, Inc. has a 12 month low of $25.40 and a 12 month high of $38.99. The company’s 50 day moving average price is $36.36 and its 200 day moving average price is $35.62.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Equities analysts anticipate that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.
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A number of brokerages have issued reports on CBG. Barclays PLC boosted 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. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of CBRE Group in a research note on Wednesday, August 2nd. UBS AG started coverage on CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 target price on shares of CBRE Group in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.60.
In related news, CEO William F. Concannon sold 15,000 shares of CBRE Group stock in a transaction on Friday, June 30th. The stock was sold at an average price of $36.57, for a total transaction of $548,550.00. Following the completion of the transaction, the chief executive officer now directly owns 238,376 shares of the company’s stock, valued at $8,717,410.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Concannon sold 20,000 shares of CBRE Group stock in a transaction 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 of the company’s stock, valued at $8,909,098.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,787 shares of company stock valued at $8,025,747. 1.00% of the stock is currently owned by insiders.
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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