Daiwa Securities Group Inc. decreased its position in CBRE Group, Inc. (NYSE:CBG) by 45.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,745 shares of the financial services provider’s stock after selling 82,855 shares during the period. Daiwa Securities Group Inc.’s holdings in CBRE Group were worth $3,630,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in CBG. BlackRock Inc. raised its position in shares of CBRE Group by 3,425.0% in the first quarter. BlackRock Inc. now owns 19,371,641 shares of the financial services provider’s stock worth $673,940,000 after buying an additional 18,822,095 shares during the period. Morgan Stanley raised its position in shares of CBRE Group by 181.3% in the first quarter. Morgan Stanley now owns 3,415,279 shares of the financial services provider’s stock valued at $118,818,000 after buying an additional 2,201,273 shares during the last quarter. Prudential Financial Inc. raised its position in shares of CBRE Group by 264.7% in the first quarter. Prudential Financial Inc. now owns 1,624,719 shares of the financial services provider’s stock valued at $56,523,000 after buying an additional 1,179,167 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CBRE Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,822,201 shares of the financial services provider’s stock valued at $967,934,000 after buying an additional 1,024,363 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of CBRE Group by 102.7% in the first quarter. Russell Investments Group Ltd. now owns 1,107,938 shares of the financial services provider’s stock valued at $38,545,000 after buying an additional 561,401 shares during the last quarter. Institutional investors own 96.84% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up 0.95% during trading on Friday, hitting $35.24. The stock had a trading volume of 2,944,149 shares. The stock has a 50 day moving average of $36.98 and a 200 day moving average of $35.25. The firm has a market cap of $11.88 billion, a PE ratio of 17.20 and a beta of 1.83. CBRE Group, Inc. has a 52-week low of $25.40 and a 52-week high of $38.99.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. On average, equities analysts anticipate that CBRE Group, Inc. will post $2.57 EPS for the current year.
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Several equities analysts have recently issued reports on the company. Barclays PLC lifted their price target on CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG started coverage on CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price on the stock. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $39.60.
In other CBRE Group news, EVP Laurence H. Midler sold 14,614 shares of CBRE Group stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $35.42, for a total value of $517,627.88. Following the completion of the sale, the executive vice president now owns 111,720 shares of the company’s stock, valued at approximately $3,957,122.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William F. Concannon sold 20,000 shares of CBRE Group stock in a transaction on Monday, July 24th. The stock was sold at an average price of $38.09, for a total transaction of $761,800.00. Following the transaction, the chief executive officer now owns 233,896 shares in the company, valued at approximately $8,909,098.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,873 shares of company stock valued at $6,920,897. 1.00% of the stock is currently owned by insiders.
CBRE Group Company Profile
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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