Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in CBRE Group Inc (NYSE:CBRE) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,171 shares of the financial services provider’s stock after selling 4,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CBRE Group were worth $2,182,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Hexavest Inc. purchased a new stake in CBRE Group in the 2nd quarter valued at $30,000. Johnson Financial Group Inc. acquired a new position in shares of CBRE Group in the 2nd quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CBRE Group in the 2nd quarter valued at $33,000. Enterprise Financial Services Corp lifted its stake in shares of CBRE Group by 680.6% in the 2nd quarter. Enterprise Financial Services Corp now owns 765 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 667 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of CBRE Group by 461.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 730 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 94.04% of the company’s stock.
In related news, insider Robert E. Sulentic sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now owns 829,011 shares in the company, valued at approximately $41,450,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James R. Groch sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.10, for a total value of $4,057,500.00. Following the transaction, the insider now owns 318,000 shares in the company, valued at approximately $17,203,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,115,000 shares of company stock worth $167,637,500. Company insiders own 0.74% of the company’s stock.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts expect that CBRE Group Inc will post 3.75 EPS for the current year.
Several equities analysts have recently commented on CBRE shares. ValuEngine lowered CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Raymond James increased their target price on CBRE Group from $65.00 to $67.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. UBS Group increased their target price on CBRE Group from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. started coverage on CBRE Group in a research report on Tuesday, October 29th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.40.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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