AMP Capital Investors Ltd lowered its holdings in CBRE Group (NYSE:CBG) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,383 shares of the financial services provider’s stock after selling 2,765 shares during the period. AMP Capital Investors Ltd’s holdings in CBRE Group were worth $3,524,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Invictus RG purchased a new stake in shares of CBRE Group in the 3rd quarter valued at about $104,000. Fieldpoint Private Securities LLC purchased a new stake in shares of CBRE Group in the 3rd quarter valued at about $104,000. Cerebellum GP LLC purchased a new stake in shares of CBRE Group in the 4th quarter valued at about $127,000. Tower Research Capital LLC TRC raised its holdings in shares of CBRE Group by 818.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 2,726 shares in the last quarter. Finally, Zions Bancorporation raised its holdings in shares of 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 acquiring an additional 3,493 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of CBRE Group in a report on Friday, February 2nd. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, January 10th. Barclays raised their price target on CBRE Group from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $46.50 price target on shares of CBRE Group in a report on Monday, February 12th. Finally, Raymond James Financial assumed coverage on CBRE Group in a report on Tuesday, February 6th. They issued an “outperform” rating and a $55.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. CBRE Group currently has an average rating of “Buy” and an average target price of $47.72.
CBG stock opened at $47.31 on Wednesday. The firm has a market capitalization of $16,099.48, a PE ratio of 23.31, a P/E/G ratio of 1.19 and a beta of 1.72. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.49. CBRE Group has a 1-year low of $32.30 and a 1-year high of $48.27.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.06. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. CBRE Group’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. research analysts anticipate that CBRE Group will post 3.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%.
In related news, CFO James R. Groch sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $45.03, for a total transaction of $2,251,500.00. Following the transaction, the chief financial officer now directly owns 442,444 shares of the company’s stock, valued at approximately $19,923,253.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brandon Boze sold 5,000,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $45.78, for a total value of $228,900,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,228,290 shares of company stock worth $239,282,352. 1.00% of the stock is currently owned by insiders.
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CBRE Group Company 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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