American International Group Inc. Trims Position in CBRE Group, Inc. (CBG)
American International Group Inc. lowered its position in shares of CBRE Group, Inc. (NYSE:CBG) by 13.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,408 shares of the financial services provider’s stock after selling 14,683 shares during the period. American International Group Inc.’s holdings in CBRE Group were worth $3,652,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Strs Ohio lifted its stake in shares of CBRE Group by 53.7% in the 2nd quarter. Strs Ohio now owns 17,701 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 6,183 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of CBRE Group by 112.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,310 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 10,750 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of CBRE Group by 2.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 213,745 shares of the financial services provider’s stock valued at $7,768,000 after purchasing an additional 5,965 shares during the period. CIBC Asset Management Inc lifted its stake in shares of CBRE Group by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 113 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of CBRE Group by 405.4% in the 2nd quarter. Sei Investments Co. now owns 35,127 shares of the financial services provider’s stock valued at $1,279,000 after purchasing an additional 28,177 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.
A number of analysts recently commented on CBG shares. BidaskClub lowered CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Barclays boosted their target price on CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Finally, Bank of America boosted their target price on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One investment 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 stock currently has an average rating of “Hold” and an average target price of $40.33.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 26.22% and a net margin of 5.75%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. equities analysts anticipate that CBRE Group, Inc. will post 2.67 earnings per share for the current fiscal year.
In other CBRE Group news, insider Robert E. Sulentic sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $43.16, for a total transaction of $1,942,200.00. Following the completion of the sale, the insider now directly owns 637,971 shares of the company’s stock, valued at approximately $27,534,828.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laurence H. Midler sold 3,139 shares of the business’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 value of $113,004.00. Following the sale, the executive vice president now directly owns 90,541 shares of the company’s stock, valued at $3,259,476. The disclosure for this sale can be found here. Insiders have sold a total of 8,526,111 shares of company stock valued at $326,453,913 over the last three months. Corporate insiders own 1.00% of the company’s stock.
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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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