CBRE Group Inc (CBG) Shares Bought by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. increased its stake in CBRE Group Inc (NYSE:CBG) by 83.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,690 shares of the financial services provider’s stock after acquiring an additional 2,136 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in CBRE Group were worth $203,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fieldpoint Private Securities LLC bought a new stake in shares of CBRE Group in the third quarter worth $104,000. Invictus RG bought a new stake in shares of CBRE Group in the third quarter worth $104,000. Cerebellum GP LLC bought a new stake in shares of CBRE Group in the fourth quarter worth $127,000. BB&T Investment Services Inc. bought a new stake in shares of CBRE Group in the second quarter worth $125,000. Finally, Zions Bancorporation increased its stake in shares of CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock worth $135,000 after buying an additional 3,493 shares during the last quarter. Institutional investors and hedge funds own 94.66% of the company’s stock.
A number of analysts recently issued reports on CBG shares. Bank of America lifted their price target 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 restated a “buy” rating and issued a $47.00 price target on shares of CBRE Group in a research note on Wednesday, December 27th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Evercore ISI started coverage on shares of CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price target for the company. Finally, JMP Securities lowered shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $45.63.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities research analysts forecast that CBRE Group Inc will post 2.65 EPS for the current year.
In other news, Director Holdings L.P. Valueact sold 84,500 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $42.82, for a total transaction of $3,618,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J. Christopher Kirk sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $43.32, for a total transaction of $866,400.00. Following the transaction, the executive vice president now owns 118,162 shares of the company’s stock, valued at approximately $5,118,777.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,960,687 shares of company stock valued at $126,486,405. 1.00% of the stock is owned by insiders.
CBRE Group 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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