Holdings L.P. Valueact Sells 406,702 Shares of CBRE Group, Inc. (CBG) Stock
CBRE Group, Inc. (NYSE:CBG) Director Holdings L.P. Valueact sold 406,702 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $42.81, for a total value of $17,410,912.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Holdings L.P. Valueact also recently made the following trade(s):
- On Friday, November 17th, Holdings L.P. Valueact sold 84,500 shares of CBRE Group stock. The stock was sold at an average price of $42.82, for a total value of $3,618,290.00.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up $0.02 on Tuesday, hitting $42.82. The stock had a trading volume of 1,747,561 shares, compared to its average volume of 1,969,065. The firm has a market capitalization of $14,530.00, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.23 and a beta of 1.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28. CBRE Group, Inc. has a 52 week low of $28.74 and a 52 week high of $43.35.
CBRE Group (NYSE:CBG) last issued its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.45 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. research analysts expect that CBRE Group, Inc. will post 2.67 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Hahn Capital Management LLC boosted its position in shares of CBRE Group by 1.0% in the 3rd quarter. Hahn Capital Management LLC now owns 1,170,732 shares of the financial services provider’s stock valued at $44,347,000 after purchasing an additional 11,091 shares during the period. IFM Investors Pty Ltd acquired a new position in shares of CBRE Group in the 3rd quarter valued at $359,000. Fieldpoint Private Securities LLC acquired a new position in shares of CBRE Group in the 3rd quarter valued at $104,000. RWC Asset Management LLP boosted its position in shares of CBRE Group by 22.8% in the 3rd quarter. RWC Asset Management LLP now owns 537,321 shares of the financial services provider’s stock valued at $20,354,000 after purchasing an additional 99,784 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of CBRE Group in the 3rd quarter valued at $7,263,000. Institutional investors and hedge funds own 96.11% of the company’s stock.
Several brokerages recently issued reports on CBG. BidaskClub cut CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a research note on Wednesday, August 2nd. Barclays PLC raised their target price on CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Bank of America Corporation raised their target price on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, UBS AG began coverage on CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.33.
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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