CBRE Group Inc. (CBG) Stake Raised by Arizona State Retirement System
Arizona State Retirement System increased its position in CBRE Group Inc. (NYSE:CBG) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,543 shares of the company’s stock after buying an additional 2,000 shares during the period. Arizona State Retirement System’s holdings in CBRE Group were worth $2,058,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Trillium Asset Management LLC raised its position in CBRE Group by 4.3% in the second quarter. Trillium Asset Management LLC now owns 517,363 shares of the company’s stock worth $13,700,000 after buying an additional 21,257 shares in the last quarter. Retirement Systems of Alabama raised its position in CBRE Group by 3.7% in the second quarter. Retirement Systems of Alabama now owns 548,778 shares of the company’s stock worth $14,532,000 after buying an additional 19,774 shares in the last quarter. Evercore Wealth Management LLC raised its position in CBRE Group by 1.7% in the second quarter. Evercore Wealth Management LLC now owns 1,660,956 shares of the company’s stock worth $43,982,000 after buying an additional 27,553 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in CBRE Group by 6.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 75,540 shares of the company’s stock worth $2,000,000 after buying an additional 4,740 shares in the last quarter. Finally, Herndon Capital Management LLC raised its position in CBRE Group by 26.0% in the second quarter. Herndon Capital Management LLC now owns 1,902,031 shares of the company’s stock worth $50,365,000 after buying an additional 392,678 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.
Shares of CBRE Group Inc. (NYSE:CBG) traded down 1.29% during trading on Monday, reaching $29.03. The company’s stock had a trading volume of 2,696,621 shares. CBRE Group Inc. has a 52-week low of $22.74 and a 52-week high of $37.79. The stock’s 50 day moving average price is $27.49 and its 200-day moving average price is $28.33. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 20.03 and a beta of 1.80.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.29 billion. CBRE Group had a return on equity of 25.55% and a net margin of 3.77%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. Equities analysts anticipate that CBRE Group Inc. will post $2.19 EPS for the current year.
Several equities analysts have issued reports on the company. Zacks Investment Research raised CBRE Group from a “sell” rating to a “hold” rating in a research note on Monday, October 31st. Wedbush assumed coverage on CBRE Group in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price target on the stock.
In related news, Director Holdings L.P. Valueact purchased 300,000 shares of CBRE Group stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average cost of $27.15 per share, for a total transaction of $8,145,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J. Christopher Kirk sold 17,739 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $29.79, for a total value of $528,444.81. Following the transaction, the executive vice president now owns 137,176 shares in the company, valued at $4,086,473.04. The disclosure for this sale can be found here. 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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