Timber Hill LLC purchased a new position in CBRE Group Inc (NYSE:CBG) during the 4th quarter, HoldingsChannel reports. The firm purchased 43,753 shares of the financial services provider’s stock, valued at approximately $1,895,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Norinchukin Bank The raised its holdings in shares of CBRE Group by 7.9% in the fourth quarter. Norinchukin Bank The now owns 24,156 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 1,769 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of CBRE Group by 66.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 57,690 shares of the financial services provider’s stock worth $2,499,000 after buying an additional 23,110 shares during the period. American International Group Inc. raised its holdings in shares of CBRE Group by 11.0% in the fourth quarter. American International Group Inc. now owns 107,054 shares of the financial services provider’s stock worth $4,637,000 after buying an additional 10,646 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CBRE Group in the fourth quarter worth approximately $25,471,000. Finally, Employees Retirement System of Texas raised its holdings in shares of CBRE Group by 12.1% in the fourth quarter. Employees Retirement System of Texas now owns 79,700 shares of the financial services provider’s stock worth $3,452,000 after buying an additional 8,600 shares during the period. Hedge funds and other institutional investors own 95.34% of the company’s stock.
CBRE Group Inc (NYSE:CBG) opened at $44.90 on Wednesday. The company has a market capitalization of $15,343.55, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.13 and a beta of 1.83. CBRE Group Inc has a fifty-two week low of $32.30 and a fifty-two week high of $46.60. The company has a current ratio of 1.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Monday, April 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.23%.
Several brokerages have recently weighed in on CBG. William Blair reiterated an “outperform” rating on shares of CBRE Group in a report on Friday, February 2nd. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, January 10th. Barclays increased their price target on CBRE Group from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Wedbush reiterated an “outperform” rating and issued a $46.50 price target on shares of CBRE Group in a report on Monday, February 12th. Finally, Raymond James Financial initiated coverage on CBRE Group in a report on Tuesday, February 6th. They set an “outperform” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.56.
In other CBRE Group news, Director Frederic V. Malek sold 50,000 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $42.87, for a total transaction of $2,143,500.00. Following the sale, the director now owns 267,446 shares of the company’s stock, valued at approximately $11,465,410.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Holdings L.P. Valueact sold 600,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $42.57, for a total value of $25,542,000.00. Following the sale, the director now directly owns 267,446 shares in the company, valued at approximately $11,385,176.22. The disclosure for this sale can be found here. Insiders have sold a total of 1,708,788 shares of company stock worth $73,051,818 in the last ninety days. 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.
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).
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.