Westpac Banking Corp Buys New Position in CBRE Group (CBRE)

Westpac Banking Corp bought a new position in shares of CBRE Group (NYSE:CBRE) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,915 shares of the financial services provider’s stock, valued at approximately $893,000.

Other large investors have also modified their holdings of the company. Progressive Investment Management Corp purchased a new stake in shares of CBRE Group in the 1st quarter valued at approximately $4,020,000. Wells Fargo & Company MN purchased a new stake in shares of CBRE Group in the 1st quarter valued at approximately $291,108,000. Sentry Investment Management LLC purchased a new stake in shares of CBRE Group in the 1st quarter valued at approximately $1,033,000. Sarasin & Partners LLP purchased a new stake in shares of CBRE Group in the 1st quarter valued at approximately $1,931,000. Finally, Greystone Managed Investments Inc. purchased a new stake in shares of CBRE Group in the 1st quarter valued at approximately $9,198,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

In other news, insider William F. Concannon sold 29,483 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $47.68, for a total transaction of $1,405,749.44. Following the completion of the transaction, the insider now directly owns 261,226 shares of the company’s stock, valued at approximately $12,455,255.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandon Boze sold 5,000,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $45.78, for a total transaction of $228,900,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,111,624 shares of company stock worth $234,199,723 over the last 90 days. Company insiders own 0.88% of the company’s stock.



Several brokerages recently commented on CBRE. ValuEngine downgraded shares of CBRE Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Raymond James upgraded shares of CBRE Group from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 10th. Barclays reiterated a “buy” rating and issued a $58.00 target price (up previously from $56.00) on shares of CBRE Group in a research report on Sunday, May 13th. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Friday, February 9th. Finally, William Blair reiterated an “outperform” rating on shares of CBRE Group in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $48.55.

CBRE Group traded up $0.12, reaching $47.54, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 23,462 shares, compared to its average volume of 2,132,441. CBRE Group has a 1-year low of $46.79 and a 1-year high of $47.41. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $16.11 billion, a PE ratio of 17.51, a PEG ratio of 1.18 and a beta of 1.70.

CBRE Group (NYSE:CBRE) last posted its earnings results on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $3.32 billion. CBRE Group had a net margin of 4.48% and a return on equity of 24.15%. CBRE Group’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. analysts anticipate that CBRE Group will post 3.1 EPS for the current fiscal year.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

Institutional Ownership by Quarter for CBRE Group (NYSE:CBRE)

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