CBRE Group, Inc. (CBG) Shares Bought by HighTower Advisors LLC
HighTower Advisors LLC grew its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 605.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,426 shares of the financial services provider’s stock after acquiring an additional 41,566 shares during the period. HighTower Advisors LLC’s holdings in CBRE Group were worth $1,758,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. GQG Partners LLC purchased a new position in shares of CBRE Group during the 2nd quarter valued at $122,000. Harbour Capital Advisors LLC purchased a new position in shares of CBRE Group during the 1st quarter valued at $118,000. Advisor Group Inc. grew its holdings in shares of CBRE Group by 6.6% during the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 337 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of CBRE Group during the 1st quarter valued at $206,000. Finally, Harbor Advisors LLC purchased a new position in shares of CBRE Group during the 1st quarter valued at $209,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE CBG) opened at 38.84 on Monday. CBRE Group, Inc. has a one year low of $25.40 and a one year high of $39.08. The company has a market capitalization of $13.09 billion, a PE ratio of 18.96 and a beta of 1.82. The company has a 50-day moving average of $36.80 and a 200-day moving average of $35.80.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 5.21% and a return on equity of 26.40%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. On average, analysts anticipate that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a report on Friday, July 21st. Barclays PLC upped their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. BidaskClub cut shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. 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. Finally, UBS AG assumed coverage on shares of CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective for the company. One research 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 company has an average rating of “Hold” and a consensus price target of $39.60.
In other news, insider Robert E. Sulentic sold 90,000 shares of CBRE Group stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $35.91, for a total value of $3,231,900.00. Following the completion of the transaction, the insider now owns 833,590 shares of the company’s stock, valued at approximately $29,934,216.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Concannon sold 25,000 shares of CBRE Group stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $39.02, for a total transaction of $975,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,715,787 shares of company stock valued at $205,347,397. 1.00% of the stock is owned by insiders.
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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