CBRE Group, Inc. (CBG) Insider Michael J. Lafitte Sells 27,775 Shares of Stock
CBRE Group, Inc. (NYSE:CBG) insider Michael J. Lafitte sold 27,775 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $35.71, for a total value of $991,845.25. Following the sale, the insider now owns 308,567 shares in the company, valued at $11,018,927.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
CBRE Group, Inc. (CBG) traded down 1.325% during mid-day trading on Friday, hitting $35.375. The stock had a trading volume of 766,511 shares. CBRE Group, Inc. has a one year low of $25.40 and a one year high of $38.99. The company has a 50 day moving average price of $36.86 and a 200-day moving average price of $35.39. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 17.265 and a beta of 1.83.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the company earned $0.52 earnings per share. CBRE Group’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on CBG shares. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a report on Wednesday, August 2nd. Barclays PLC boosted their target price on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. UBS AG began coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price on the stock. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 target price on shares of CBRE Group in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. CBRE Group presently has an average rating of “Hold” and an average target price of $39.60.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of CBRE Group by 3,425.0% in the first quarter. BlackRock Inc. now owns 19,371,641 shares of the financial services provider’s stock worth $673,940,000 after buying an additional 18,822,095 shares during the last quarter. Janus Henderson Group PLC boosted its position in CBRE Group by 13,158.3% in the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock valued at $208,691,000 after buying an additional 5,690,048 shares during the last quarter. Alliancebernstein L.P. boosted its position in CBRE Group by 273.3% in the second quarter. Alliancebernstein L.P. now owns 3,275,845 shares of the financial services provider’s stock valued at $119,241,000 after buying an additional 2,398,384 shares during the last quarter. Morgan Stanley boosted its position in CBRE Group by 181.3% in the first quarter. Morgan Stanley now owns 3,415,279 shares of the financial services provider’s stock valued at $118,818,000 after buying an additional 2,201,273 shares during the last quarter. Finally, AJO LP boosted its position in CBRE Group by 314.1% in the second quarter. AJO LP now owns 2,887,891 shares of the financial services provider’s stock valued at $105,119,000 after buying an additional 2,190,476 shares during the last quarter. Institutional investors and hedge funds own 96.84% 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 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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