CBRE Group Inc. (CBG) Position Increased by Evercore Wealth Management LLC
Evercore Wealth Management LLC raised its position in shares of CBRE Group Inc. (NYSE:CBG) by 1.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,660,956 shares of the company’s stock after buying an additional 27,553 shares during the period. CBRE Group comprises approximately 1.9% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. Evercore Wealth Management LLC owned about 0.50% of CBRE Group worth $43,982,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in CBRE Group by 5.8% in the second quarter. Vanguard Group Inc. now owns 26,286,199 shares of the company’s stock worth $696,059,000 after buying an additional 1,445,635 shares in the last quarter. FMR LLC boosted its stake in CBRE Group by 26.5% in the second quarter. FMR LLC now owns 18,561,943 shares of the company’s stock valued at $491,520,000 after buying an additional 3,884,677 shares during the period. Principal Financial Group Inc. boosted its stake in CBRE Group by 7.2% in the second quarter. Principal Financial Group Inc. now owns 9,612,021 shares of the company’s stock valued at $254,526,000 after buying an additional 643,550 shares during the period. Cantillon Capital Management LLC boosted its stake in CBRE Group by 93.8% in the second quarter. Cantillon Capital Management LLC now owns 7,374,944 shares of the company’s stock valued at $195,288,000 after buying an additional 3,569,932 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in CBRE Group by 2.5% in the second quarter. BlackRock Fund Advisors now owns 6,326,705 shares of the company’s stock valued at $167,531,000 after buying an additional 156,281 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.
Shares of CBRE Group Inc. (NYSE:CBG) opened at 27.64 on Friday. CBRE Group Inc. has a 12-month low of $22.74 and a 12-month high of $37.79. The stock’s 50 day moving average price is $27.27 and its 200 day moving average price is $28.41. The company has a market capitalization of $9.28 billion, a PE ratio of 19.08 and a beta of 1.80.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company earned $3.20 billion during the quarter, compared to the consensus estimate of $3.29 billion. CBRE Group had a return on equity of 25.55% and a net margin of 3.77%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. On average, equities research analysts forecast that CBRE Group Inc. will post $2.19 earnings per share for the current year.
Several analysts have recently weighed in on CBG shares. Zacks Investment Research cut CBRE Group from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Wedbush started coverage on CBRE Group in a report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 price target on the stock.
In related news, insider Calvin W. Frese, Jr. sold 11,674 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $29.57, for a total transaction of $345,200.18. Following the sale, the insider now owns 344,553 shares of the company’s stock, valued at approximately $10,188,432.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Valueact Capital Master Fund, acquired 1,200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were bought at an average cost of $26.95 per share, for a total transaction of $32,340,000.00. The disclosure for this purchase can be found here. Corporate insiders own 1.10% 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 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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