YCG LLC raised its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,967 shares of the financial services provider’s stock after buying an additional 772 shares during the period. YCG LLC’s holdings in CBRE Group were worth $326,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in 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 valued at $673,940,000 after buying an additional 18,822,095 shares during the period. Morgan Stanley increased its stake in 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 period. Prudential Financial Inc. increased its stake in 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 period. Vanguard Group Inc. increased its stake in 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 period. Finally, Russell Investments Group Ltd. increased its stake in 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 period. Hedge funds and other institutional investors own 96.44% of the company’s stock.
CBRE Group, Inc. (CBG) opened at 35.77 on Friday. The firm has a market capitalization of $12.05 billion, a PE ratio of 17.46 and a beta of 1.83. The firm has a 50-day moving average of $37.09 and a 200 day moving average of $35.07. CBRE Group, Inc. has a 52 week low of $25.40 and a 52 week high of $38.99.
CBRE Group (NYSE:CBG) last released its 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. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
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Several analysts recently commented on CBG shares. Zacks Investment Research downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a research report on Monday, April 17th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC boosted their price objective on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Finally, UBS AG assumed 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.40.
In other CBRE Group news, CEO William F. Concannon sold 20,000 shares of CBRE Group 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 transaction, the chief executive officer now owns 233,896 shares of the company’s stock, valued at approximately $8,909,098.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Concannon sold 15,000 shares of CBRE Group stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $36.57, for a total value of $548,550.00. Following the sale, the chief executive officer now owns 238,376 shares of the company’s stock, valued at $8,717,410.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,627 shares of company stock worth $2,822,306. Company insiders own 1.00% of the company’s stock.
About CBRE Group
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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