Zurcher Kantonalbank Zurich Cantonalbank Trims Position in CBRE Group, Inc. (CBG)
Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in CBRE Group, Inc. (NYSE:CBG) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,659 shares of the financial services provider’s stock after selling 4,891 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CBRE Group were worth $2,146,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in CBRE Group by 4.6% during the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock worth $1,059,662,000 after buying an additional 1,289,368 shares during the period. BlackRock Inc. boosted its stake in CBRE Group by 6.1% during the second quarter. BlackRock Inc. now owns 20,546,977 shares of the financial services provider’s stock worth $747,911,000 after buying an additional 1,175,336 shares during the period. JPMorgan Chase & Co. boosted its stake in CBRE Group by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 12,848,701 shares of the financial services provider’s stock worth $467,693,000 after buying an additional 1,006,321 shares during the period. FMR LLC boosted its stake in CBRE Group by 10.6% during the second quarter. FMR LLC now owns 10,837,894 shares of the financial services provider’s stock worth $394,500,000 after buying an additional 1,040,182 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in CBRE Group by 5.8% during the second quarter. Principal Financial Group Inc. now owns 10,568,915 shares of the financial services provider’s stock worth $384,708,000 after buying an additional 575,408 shares during the period. Institutional investors own 95.00% of the company’s stock.
Several research analysts have commented on CBG shares. Bank of America lifted their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Barclays lifted their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Finally, BidaskClub lowered shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.33.
CBRE Group, Inc. (NYSE CBG) opened at $43.19 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $14,718.95, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.86. CBRE Group, Inc. has a one year low of $29.45 and a one year high of $43.54.
CBRE Group (NYSE:CBG) last issued its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. equities analysts anticipate that CBRE Group, Inc. will post 2.67 EPS for the current fiscal year.
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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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