Aperio Group LLC raised its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 13.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 290,370 shares of the financial services provider’s stock after buying an additional 33,867 shares during the period. Aperio Group LLC owned 0.09% of CBRE Group worth $10,569,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of CBRE Group during the first quarter valued at about $116,000. Harbour Capital Advisors LLC bought a new stake in shares of CBRE Group during the first quarter valued at about $118,000. Pettee Investors Inc. bought a new stake in shares of CBRE Group during the first quarter valued at about $203,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of CBRE Group during the first quarter valued at about $206,000. Finally, Harbor Advisors LLC bought a new stake in shares of CBRE Group during the first quarter valued at about $209,000. 96.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CBRE Group, Inc. (CBG) traded up 0.95% on Friday, hitting $35.24. 2,944,149 shares of the stock traded hands. The stock has a market cap of $11.88 billion, a P/E ratio of 17.20 and a beta of 1.83. The stock’s 50 day moving average price is $36.98 and its 200 day moving average price is $35.25. CBRE Group, Inc. has a 52-week low of $25.40 and a 52-week high of $38.99.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.
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Several brokerages have commented on CBG. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a report on Friday, July 21st. 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 report on Tuesday, July 18th. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, July 7th. UBS AG initiated coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. CBRE Group currently has an average rating of “Hold” and a consensus price target of $39.60.
In other news, CEO William F. Concannon sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the sale, the chief executive officer now directly owns 233,896 shares in the company, valued at approximately $8,909,098.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Lafitte sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total value of $555,300.00. Following the completion of the sale, the insider now owns 369,774 shares of the company’s stock, valued at $13,689,033.48. The disclosure for this sale can be found here. Insiders have sold a total of 189,873 shares of company stock valued at $6,920,897 in the last quarter. Company insiders own 1.00% of the company’s stock.
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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