CBRE Group Inc (CBG) Insider Sells $1,702,400.00 in Stock
CBRE Group Inc (NYSE:CBG) insider Robert E. Sulentic sold 40,000 shares of CBRE Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $42.56, for a total transaction of $1,702,400.00. Following the transaction, the insider now directly owns 597,971 shares in the company, valued at $25,449,645.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
CBRE Group Inc (NYSE:CBG) opened at $45.04 on Thursday. CBRE Group Inc has a 52 week low of $32.30 and a 52 week high of $46.60. The company has a market cap of $15,290.00, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 1.08.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. equities analysts predict that CBRE Group Inc will post 3.07 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank increased its position in shares of CBRE Group by 25.6% during the second quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock valued at $3,709,000 after acquiring an additional 20,739 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of CBRE Group by 70.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after acquiring an additional 130,144 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of CBRE Group during the third quarter valued at about $748,000. Candriam Luxembourg S.C.A. increased its position in shares of CBRE Group by 1.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 589,741 shares of the financial services provider’s stock valued at $22,339,000 after acquiring an additional 6,060 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of CBRE Group by 4.6% during the third quarter. Legal & General Group Plc now owns 1,540,359 shares of the financial services provider’s stock valued at $58,349,000 after acquiring an additional 67,625 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.
A number of brokerages have commented on CBG. JMP Securities downgraded 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. Evercore ISI began coverage on shares of CBRE Group in a research note on Monday, January 22nd. They set an “in-line” rating and a $48.00 target price on the stock. ValuEngine raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays lifted their target price on shares of CBRE Group from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. CBRE Group currently has a consensus rating of “Buy” and a consensus price target of $46.56.
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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