CBRE Group Inc (CBG) Stake Lessened by Green Square Capital LLC
Green Square Capital LLC reduced its position in shares of CBRE Group Inc (NYSE:CBG) by 46.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,152 shares of the financial services provider’s stock after selling 7,025 shares during the quarter. Green Square Capital LLC’s holdings in CBRE Group were worth $309,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new position in CBRE Group in the 3rd quarter valued at about $7,263,000. California Public Employees Retirement System lifted its stake in CBRE Group by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 665,499 shares of the financial services provider’s stock valued at $25,209,000 after buying an additional 14,199 shares in the last quarter. Zions Bancorporation lifted its stake in CBRE Group by 5,136.8% in the 3rd quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after buying an additional 3,493 shares in the last quarter. Caxton Associates LP purchased a new position in CBRE Group in the 3rd quarter valued at about $439,000. Finally, Chevy Chase Trust Holdings Inc. lifted its stake in CBRE Group by 1.1% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 263,392 shares of the financial services provider’s stock valued at $9,977,000 after buying an additional 2,987 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.
Separately, Bank of America raised their price target on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $40.33.
CBRE Group (NYSE:CBG) last issued its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. The firm had revenue of $3.55 billion for 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%. CBRE Group’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last 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 Calvin W. Frese, Jr. sold 25,000 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $40.04, for a total value of $1,001,000.00. Following the completion of the sale, the insider now owns 246,473 shares in the company, valued at approximately $9,868,778.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.90, for a total transaction of $197,450,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,529,872 shares of company stock worth $326,639,541 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
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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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