CBRE Group, Inc. (NYSE:CBG) CEO William F. Concannon sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $38.09, for a total transaction of $761,800.00. Following the completion of the transaction, the chief executive officer now owns 233,896 shares in the company, valued at $8,909,098.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
CBRE Group, Inc. (NYSE:CBG) opened at 35.24 on Friday. CBRE Group, Inc. has a 52-week low of $25.40 and a 52-week high of $38.99. The stock has a market capitalization of $11.88 billion, a P/E ratio of 17.20 and a beta of 1.83. The stock has a 50 day moving average of $36.98 and a 200 day moving average of $35.25.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, equities research analysts forecast that CBRE Group, Inc. will post $2.57 EPS for the current year.
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Several analysts recently weighed in on CBG shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a research report on Tuesday, May 30th. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, July 7th. Barclays PLC lifted their price objective on shares of CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. UBS AG began coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.60.
Several institutional investors have recently bought and sold shares of CBG. State of Alaska Department of Revenue bought a new position in CBRE Group during the first quarter worth approximately $116,000. GQG Partners LLC bought a new position in CBRE Group during the second quarter worth approximately $122,000. Harbour Capital Advisors LLC bought a new position in CBRE Group during the first quarter worth approximately $118,000. BB&T Investment Services Inc. bought a new position in CBRE Group during the second quarter worth approximately $125,000. Finally, Advisor Group Inc. raised its position in CBRE Group by 6.6% in the second quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock worth $198,000 after buying an additional 337 shares in the last quarter. 96.84% of the stock is currently owned by institutional investors.
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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