Howland Capital Management LLC Sells 274,182 Shares of CBRE Group Inc. (CBG)
Howland Capital Management LLC decreased its position in shares of CBRE Group Inc. (NYSE:CBG) by 76.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,315 shares of the company’s stock after selling 274,182 shares during the period. Howland Capital Management LLC’s holdings in CBRE Group were worth $2,387,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC raised its stake in shares of CBRE Group by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,133 shares of the company’s stock worth $295,000 after buying an additional 31 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of CBRE Group by 0.8% in the second quarter. Integrated Investment Consultants LLC now owns 8,154 shares of the company’s stock worth $216,000 after buying an additional 62 shares during the period. Independent Portfolio Consultants Inc. raised its stake in shares of CBRE Group by 0.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 24,596 shares of the company’s stock worth $688,000 after buying an additional 85 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of CBRE Group by 2.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,641 shares of the company’s stock worth $182,000 after buying an additional 210 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of CBRE Group by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,015 shares of the company’s stock worth $609,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.
CBRE Group Inc. (NYSE:CBG) traded down 1.29% during mid-day trading on Monday, hitting $29.03. 2,696,621 shares of the stock traded hands. CBRE Group Inc. has a 52-week low of $22.74 and a 52-week high of $37.79. The firm’s 50-day moving average is $27.49 and its 200 day moving average is $28.33. The firm has a market cap of $9.75 billion, a P/E ratio of 20.03 and a beta of 1.80.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, October 27th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. CBRE Group had a net margin of 3.77% and a return on equity of 25.55%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the business earned $0.51 earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. Equities analysts predict that CBRE Group Inc. will post $2.19 EPS for the current fiscal year.
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A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of CBRE Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Wedbush initiated coverage on shares of CBRE Group in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 target price for the company.
In other CBRE Group news, insider Calvin W. Frese, Jr. sold 39,475 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $29.90, for a total transaction of $1,180,302.50. Following the completion of the transaction, the insider now owns 298,816 shares of the company’s stock, valued at $8,934,598.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laurence H. Midler sold 11,867 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $29.93, for a total value of $355,179.31. Following the transaction, the executive vice president now directly owns 115,926 shares of the company’s stock, valued at approximately $3,469,665.18. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
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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