Acadian Asset Management LLC boosted its position in CBRE Group, Inc. (NYSE:CBRE) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,385 shares of the financial services provider’s stock after purchasing an additional 3,019 shares during the period. Acadian Asset Management LLC’s holdings in CBRE Group were worth $5,231,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CBRE. SG Americas Securities LLC increased its holdings in CBRE Group by 55.5% in the 2nd quarter. SG Americas Securities LLC now owns 28,311 shares of the financial services provider’s stock worth $1,280,000 after purchasing an additional 10,107 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of CBRE Group in the second quarter valued at about $762,000. Banque Cantonale Vaudoise increased its stake in shares of CBRE Group by 8.7% in the second quarter. Banque Cantonale Vaudoise now owns 8,828 shares of the financial services provider’s stock valued at $399,000 after buying an additional 706 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in shares of CBRE Group in the second quarter valued at about $65,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of CBRE Group by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 286,388 shares of the financial services provider’s stock valued at $12,950,000 after buying an additional 7,000 shares during the period. 90.29% of the stock is owned by institutional investors and hedge funds.
In other CBRE Group news, EVP Laurence H. Midler sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $49.90, for a total value of $374,250.00. Following the transaction, the executive vice president now owns 109,485 shares in the company, valued at $5,463,301.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel G. Queenan sold 6,506 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $46.80, for a total value of $304,480.80. Following the completion of the transaction, the chief executive officer now owns 150,909 shares in the company, valued at approximately $7,062,541.20. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Shares of CBRE Group stock opened at $58.30 on Friday. CBRE Group, Inc. has a one year low of $29.17 and a one year high of $64.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50-day moving average is $51.02 and its 200 day moving average is $46.51. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.04 and a beta of 1.55.
CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.31. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.30 billion. CBRE Group had a return on equity of 16.83% and a net margin of 4.48%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. On average, sell-side analysts expect that CBRE Group, Inc. will post 2.67 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on CBRE shares. Raymond James increased their price target on CBRE Group from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. TheStreet raised CBRE Group from a “c+” rating to a “b” rating in a research note on Tuesday, September 22nd. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Tuesday, October 6th. Finally, UBS Group upped their target price on CBRE Group from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. CBRE Group presently has a consensus rating of “Hold” and an average target price of $51.86.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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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