CBRE Group Inc. (CBG) Stake Increased by Retirement Systems of Alabama
Retirement Systems of Alabama boosted its stake in CBRE Group Inc. (NYSE:CBG) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,778 shares of the company’s stock after buying an additional 19,774 shares during the period. Retirement Systems of Alabama owned approximately 0.16% of CBRE Group worth $14,532,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Trust Department MB Financial Bank N A raised its stake in CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock valued at $108,000 after buying an additional 2,094 shares during the last quarter. IFP Advisors Inc raised its stake in CBRE Group by 10.7% in the first quarter. IFP Advisors Inc now owns 4,935 shares of the company’s stock valued at $142,000 after buying an additional 476 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in CBRE Group by 0.8% in the second quarter. Integrated Investment Consultants LLC now owns 8,154 shares of the company’s stock valued at $216,000 after buying an additional 62 shares during the last quarter. Parkwood LLC purchased a new stake in CBRE Group during the second quarter valued at about $247,000. Finally, Rehmann Capital Advisory Group purchased a new stake in CBRE Group during the first quarter valued at about $279,000. 95.71% of the stock is currently owned by institutional investors and hedge funds.
CBRE Group Inc. (NYSE:CBG) traded up 1.23% during mid-day trading on Friday, reaching $27.98. 2,849,046 shares of the company’s stock were exchanged. The stock has a market capitalization of $9.38 billion, a PE ratio of 17.72 and a beta of 1.94. The firm’s 50-day moving average is $28.99 and its 200 day moving average is $28.84. CBRE Group Inc. has a 1-year low of $22.74 and a 1-year high of $38.49.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. Analysts forecast that CBRE Group Inc. will post $2.22 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of CBRE Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th.
In related news, CFO James R. Groch sold 20,000 shares of CBRE Group stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the sale, the chief financial officer now directly owns 538,281 shares in the company, valued at approximately $16,148,430. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Valueact Capital Master Fund, acquired 1,502,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $28.31 per share, for a total transaction of $42,527,282.00. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.
CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is 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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