Ameriprise Financial Inc. Has $14.28 Million Position in CBRE Group, Inc. (CBG)
Ameriprise Financial Inc. lowered its position in shares of CBRE Group, Inc. (NYSE:CBG) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 392,172 shares of the financial services provider’s stock after selling 12,820 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of CBRE Group worth $14,276,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC acquired a new position in CBRE Group during the first quarter valued at approximately $118,000. Cambridge Investment Research Advisors Inc. acquired a new position in CBRE Group during the first quarter valued at approximately $206,000. Harbor Advisors LLC acquired a new position in CBRE Group during the first quarter valued at approximately $209,000. King Luther Capital Management Corp acquired a new position in CBRE Group during the first quarter valued at approximately $210,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in CBRE Group during the second quarter valued at approximately $223,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
CBG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, July 7th. Barclays PLC boosted their price objective on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a report on Friday, July 21st. BidaskClub cut shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, UBS AG initiated coverage on shares of CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.60.
In other news, CEO William F. Concannon sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $38.09, for a total transaction of $761,800.00. Following the completion of the sale, the chief executive officer now owns 233,896 shares of the company’s stock, valued at approximately $8,909,098.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laurence H. Midler sold 3,139 shares of the firm’s stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 5,715,787 shares of company stock valued at $205,347,397. Insiders own 1.00% of the company’s stock.
CBRE Group, Inc. (CBG) opened at 38.84 on Friday. The firm has a market cap of $13.09 billion, a PE ratio of 18.96 and a beta of 1.82. CBRE Group, Inc. has a 12-month low of $25.40 and a 12-month high of $39.08. The stock has a 50 day moving average of $36.80 and a 200 day moving average of $35.80.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.53 by $0.12. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that CBRE Group, Inc. will post $2.57 EPS for the current fiscal 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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