Comerica Bank Buys Shares of 115,919 CBRE Group Inc (CBRE)
Comerica Bank bought a new position in shares of CBRE Group Inc (NYSE:CBRE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 115,919 shares of the financial services provider’s stock, valued at approximately $4,554,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in CBRE Group during the 3rd quarter worth approximately $103,000. Quadrant Capital Group LLC acquired a new stake in CBRE Group during the 3rd quarter worth approximately $128,000. Hanson & Doremus Investment Management acquired a new stake in CBRE Group during the 3rd quarter worth approximately $155,000. IFP Advisors Inc acquired a new stake in CBRE Group during the 3rd quarter worth approximately $176,000. Finally, Squar Milner Financial Services LLC acquired a new stake in CBRE Group during the 3rd quarter worth approximately $197,000. 94.32% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Monday, August 6th. Barclays increased their target price on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. ValuEngine downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Bank of America dropped their target price on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $52.56.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The company had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.17 billion. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts anticipate that CBRE Group Inc will post 3.2 EPS for the current fiscal year.
In other CBRE Group news, CEO William F. Concannon sold 28,878 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the completion of the sale, the chief executive officer now owns 204,631 shares of the company’s stock, valued at $9,713,833.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.
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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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