Insider Buying: CBRE Group Inc. (CBG) Insider Acquires $32,340,000.00 in Stock
CBRE Group Inc. (NYSE:CBG) insider Valueact Capital Master Fund, purchased 1,200,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was purchased at an average price of $26.95 per share, for a total transaction of $32,340,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Valueact Capital Master Fund, also recently made the following trade(s):
- On Friday, November 4th, Valueact Capital Master Fund, purchased 3,836,006 shares of CBRE Group stock. The stock was purchased at an average price of $25.79 per share, for a total transaction of $98,930,594.74.
- On Tuesday, November 1st, Valueact Capital Master Fund, purchased 2,217,190 shares of CBRE Group stock. The stock was purchased at an average price of $25.80 per share, for a total transaction of $57,203,502.00.
Shares of CBRE Group Inc. (NYSE:CBG) opened at 27.64 on Monday. CBRE Group Inc. has a one year low of $22.74 and a one year high of $37.79. The firm’s 50-day moving average is $27.27 and its 200 day moving average is $28.41. The firm has a market capitalization of $9.28 billion, a P/E ratio of 19.08 and a beta of 1.80.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.29 billion. CBRE Group had a return on equity of 25.55% and a net margin of 3.77%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share. Equities research analysts predict that CBRE Group Inc. will post $2.19 earnings per share for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of CBRE Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. Wedbush started coverage on shares of CBRE Group in a report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 target price on the stock.
Hedge funds have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp boosted its stake in CBRE Group by 20,636.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 4,852,353 shares of the company’s stock valued at $128,490,000 after buying an additional 4,828,953 shares during the period. 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. 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. Ameriprise Financial Inc. boosted its stake in CBRE Group by 169.9% in the second quarter. Ameriprise Financial Inc. now owns 4,111,691 shares of the company’s stock valued at $108,877,000 after buying an additional 2,588,495 shares during the period. Finally, Fiera Capital Corp purchased a new stake in CBRE Group during the second quarter valued at $53,449,000. Institutional investors own 95.69% 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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