682,531 Shares in CBRE Group Inc (CBRE) Purchased by ClariVest Asset Management LLC
ClariVest Asset Management LLC bought a new position in shares of CBRE Group Inc (NYSE:CBRE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 682,531 shares of the financial services provider’s stock, valued at approximately $30,099,000. ClariVest Asset Management LLC owned approximately 0.20% of CBRE Group as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in CBRE Group during the third quarter worth about $638,351,000. Wells Fargo & Company MN purchased a new position in CBRE Group during the third quarter worth about $301,769,000. Prudential Financial Inc. purchased a new position in CBRE Group during the third quarter worth about $154,507,000. Sterling Capital Management LLC purchased a new position in CBRE Group during the third quarter worth about $142,352,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in CBRE Group during the third quarter worth about $133,879,000. Institutional investors and hedge funds own 94.32% of the company’s stock.
In other news, CEO William F. Concannon sold 28,878 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $47.47, for a total value of $1,370,838.66. Following the completion of the transaction, the chief executive officer now directly owns 204,631 shares in the company, valued at approximately $9,713,833.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.
CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The firm had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that CBRE Group Inc will post 3.2 EPS for the current year.
Several equities analysts recently commented on CBRE shares. Zacks Investment Research cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Barclays boosted their target price on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. Bank of America reduced their target price on CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Finally, ValuEngine cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $52.56.
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CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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