CBRE Group, Inc. (CBG) Holdings Cut by Engineers Gate Manager LP
Engineers Gate Manager LP trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 56.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,259 shares of the financial services provider’s stock after selling 22,760 shares during the period. Engineers Gate Manager LP’s holdings in CBRE Group were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in CBG. BlackRock Inc. lifted its holdings in CBRE Group by 3,425.0% during the 1st 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. Morgan Stanley lifted its holdings in CBRE Group by 181.3% during the 1st quarter. Morgan Stanley now owns 3,415,279 shares of the financial services provider’s stock worth $118,818,000 after buying an additional 2,201,273 shares during the last quarter. Prudential Financial Inc. lifted its holdings in CBRE Group by 123.2% during the 2nd quarter. Prudential Financial Inc. now owns 3,626,928 shares of the financial services provider’s stock worth $132,020,000 after buying an additional 2,002,209 shares during the last quarter. Vanguard Group Inc. lifted its holdings in CBRE Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 27,822,201 shares of the financial services provider’s stock worth $967,934,000 after buying an additional 1,024,363 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in CBRE Group by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,848,701 shares of the financial services provider’s stock worth $467,693,000 after buying an additional 1,006,321 shares during the last quarter. 95.66% of the stock is owned by institutional investors.
In related news, EVP Laurence H. Midler sold 3,139 shares of CBRE Group stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $36.00, for a total value of $113,004.00. Following the completion of the transaction, the executive vice president now directly owns 90,541 shares in the company, valued at $3,259,476. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Concannon sold 20,000 shares of CBRE Group stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the transaction, the chief executive officer now owns 233,896 shares of the company’s stock, valued at $8,909,098.64. The disclosure for this sale can be found here. Insiders sold 220,787 shares of company stock valued at $8,025,747 over the last quarter. Insiders own 1.00% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) opened at 36.62 on Friday. CBRE Group, Inc. has a 12-month low of $25.40 and a 12-month high of $38.99. The stock has a 50 day moving average price of $36.36 and a 200 day moving average price of $35.62. The stock has a market capitalization of $12.34 billion, a P/E ratio of 17.87 and a beta of 1.83.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. On average, equities analysts anticipate that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Barclays PLC lifted their price target on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG assumed coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target for the company. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price target on shares of CBRE Group in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.60.
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CBRE Group Company Profile
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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