HighVista Strategies LLC Has $1,207,000 Holdings in CBRE Group, Inc. (CBG)
HighVista Strategies LLC maintained its position in CBRE Group, Inc. (NYSE:CBG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,173 shares of the financial services provider’s stock at the end of the second quarter. HighVista Strategies LLC’s holdings in CBRE Group were worth $1,207,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Paloma Partners Management Co increased its stake in CBRE Group by 1,236.6% during the 1st quarter. Paloma Partners Management Co now owns 100,188 shares of the financial services provider’s stock worth $3,485,000 after acquiring an additional 92,692 shares during the period. Aviva PLC increased its stake in CBRE Group by 1.5% during the 2nd quarter. Aviva PLC now owns 181,175 shares of the financial services provider’s stock worth $6,595,000 after acquiring an additional 2,720 shares during the period. Logan Capital Management Inc. increased its stake in CBRE Group by 1.6% during the 1st quarter. Logan Capital Management Inc. now owns 239,634 shares of the financial services provider’s stock worth $8,337,000 after acquiring an additional 3,885 shares during the period. Hosking Partners LLP increased its stake in CBRE Group by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 2,425,070 shares of the financial services provider’s stock worth $88,273,000 after acquiring an additional 38,977 shares during the period. Finally, Legal & General Group Plc increased its stake in CBRE Group by 5.2% during the 1st quarter. Legal & General Group Plc now owns 1,364,404 shares of the financial services provider’s stock worth $47,464,000 after acquiring an additional 67,496 shares during the period. Hedge funds and other institutional investors own 95.64% of the company’s stock.
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CBG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC raised their price objective on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, July 7th. UBS AG started coverage on CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a research note on Wednesday, August 2nd. One equities 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 currently has a consensus rating of “Hold” and an average price target of $39.60.
Shares of CBRE Group, Inc. (NYSE CBG) traded up 0.50% during trading on Thursday, hitting $38.09. The stock had a trading volume of 327,820 shares. The company has a market cap of $12.84 billion, a PE ratio of 18.59 and a beta of 1.83. The firm’s 50 day moving average is $36.30 and its 200 day moving average is $35.62. CBRE Group, Inc. has a 1-year low of $25.40 and a 1-year high of $38.99.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.12. The firm had revenue of $3.34 billion for 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 business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts anticipate that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.
In other news, EVP Laurence H. Midler sold 3,139 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $36.00, for a total value of $113,004.00. Following the transaction, the executive vice president now owns 90,541 shares of the company’s stock, valued at $3,259,476. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,705,787 shares of company stock worth $204,920,447. Insiders own 1.00% of the company’s stock.
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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