Sawgrass Asset Management LLC Has $288,000 Holdings in CBRE Group, Inc. (CBG)
Sawgrass Asset Management LLC maintained its position in shares of CBRE Group, Inc. (NYSE:CBG) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,900 shares of the financial services provider’s stock at the end of the 2nd quarter. Sawgrass Asset Management LLC’s holdings in CBRE Group were worth $288,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new stake in CBRE Group in the 1st quarter worth $118,000. Cambridge Investment Research Advisors Inc. purchased a new stake in CBRE Group in the 1st quarter worth $206,000. Harbor Advisors LLC purchased a new stake in CBRE Group in the 1st quarter worth $209,000. King Luther Capital Management Corp purchased a new stake in CBRE Group in the 1st quarter worth $210,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in CBRE Group in the 2nd quarter worth $223,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.
A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price target on shares of CBRE Group in a research note on Friday, July 21st. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, July 7th. Barclays PLC increased their price target on CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. BidaskClub lowered CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, UBS AG assumed coverage on CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.60.
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In other news, insider Valueact Capital Master Fund, sold 5,500,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.90, for a total transaction of $197,450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laurence H. Midler sold 3,139 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $36.00, for a total transaction of $113,004.00. Following the sale, the executive vice president now directly owns 90,541 shares of the company’s stock, valued at approximately $3,259,476. The disclosure for this sale can be found here. Insiders have sold 5,720,787 shares of company stock valued at $205,475,747 in the last three months. Corporate insiders own 1.00% of the company’s stock.
CBRE Group, Inc. (NYSE CBG) opened at 37.18 on Friday. The stock’s 50 day moving average price is $36.30 and its 200-day moving average price is $35.62. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 18.15 and a beta of 1.83. CBRE Group, Inc. has a 12 month low of $25.40 and a 12 month high of $38.99.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. Equities analysts expect that CBRE Group, Inc. will post $2.57 EPS for the current year.
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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