Bank of New York Mellon Corp Acquires 814 Shares of CBRE Group, Inc. (CBG)
Bank of New York Mellon Corp increased its position in shares of CBRE Group, Inc. (NYSE:CBG) by 0.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,836,503 shares of the financial services provider’s stock after buying an additional 814 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of CBRE Group worth $98,681,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in CBRE Group during the first quarter worth $116,000. Parallel Advisors LLC acquired a new stake in shares of CBRE Group during the fourth quarter valued at approximately $117,000. Cutter & CO Brokerage Inc. acquired a new stake in shares of CBRE Group during the fourth quarter valued at approximately $210,000. Tredje AP fonden increased its stake in shares of CBRE Group by 55.3% in the fourth quarter. Tredje AP fonden now owns 7,456 shares of the financial services provider’s stock valued at $235,000 after buying an additional 2,656 shares during the last quarter. Finally, Argentus Capital Management LLC increased its stake in shares of CBRE Group by 1.3% in the third quarter. Argentus Capital Management LLC now owns 8,521 shares of the financial services provider’s stock valued at $238,000 after buying an additional 107 shares during the last quarter. 97.13% of the stock is currently owned by institutional investors.
Shares of CBRE Group, Inc. (NYSE:CBG) traded down 0.11% during midday trading on Friday, reaching $35.05. 2,612,411 shares of the company’s stock traded hands. CBRE Group, Inc. has a 12 month low of $24.11 and a 12 month high of $36.81. The firm has a market cap of $11.81 billion, a PE ratio of 19.16 and a beta of 1.79. The stock has a 50-day moving average price of $35.02 and a 200 day moving average price of $33.53.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.91 billion. CBRE Group had a net margin of 4.69% and a return on equity of 26.31%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts predict that CBRE Group, Inc. will post $2.43 earnings per share for the current year.
A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of CBRE Group in a report on Thursday, March 16th. Zacks Investment Research cut CBRE Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a report on Monday, April 17th.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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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