FIL Ltd reduced its position in shares of CBRE Group, Inc. (NYSE:CBG) by 0.9% during the fourth quarter, Holdings Channel reports. The firm owned 644,503 shares of the company’s stock after selling 5,742 shares during the period. FIL Ltd’s holdings in CBRE Group were worth $20,295,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD raised its position in CBRE Group by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,015 shares of the company’s stock worth $609,000 after buying an additional 250 shares during the period. BB&T Corp raised its position in CBRE Group by 3.6% in the second quarter. BB&T Corp now owns 183,868 shares of the company’s stock worth $4,869,000 after buying an additional 6,347 shares during the period. Riverpark Capital Management LLC raised its position in CBRE Group by 22.2% in the second quarter. Riverpark Capital Management LLC now owns 257,807 shares of the company’s stock worth $6,827,000 after buying an additional 46,822 shares during the period. Evercore Wealth Management LLC raised its position in CBRE Group by 0.4% in the second quarter. Evercore Wealth Management LLC now owns 1,639,601 shares of the company’s stock worth $43,416,000 after buying an additional 6,198 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in CBRE Group by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,958 shares of the company’s stock worth $8,181,000 after buying an additional 23,843 shares during the period. Hedge funds and other institutional investors own 95.98% of the company’s stock.
Shares of CBRE Group, Inc. (NYSE:CBG) traded up 1.74% during midday trading on Friday, hitting $35.63. 1,264,234 shares of the company’s stock traded hands. The stock has a market cap of $12.00 billion, a P/E ratio of 21.08 and a beta of 1.70. CBRE Group, Inc. has a 52 week low of $24.11 and a 52 week high of $35.78. The company has a 50 day moving average of $31.50 and a 200 day moving average of $29.57.
CBRE Group (NYSE:CBG) last announced its earnings results on Friday, February 10th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.13. CBRE Group had a return on equity of 26.37% and a net margin of 4.38%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company posted $0.81 EPS. CBRE Group’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that CBRE Group, Inc. will post $2.37 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on CBG shares. Zacks Investment Research upgraded shares of CBRE Group from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. Wedbush reiterated an “outperform” rating and issued a $35.00 price objective (down from $38.00) on shares of CBRE Group in a research report on Wednesday.
In other CBRE Group news, CFO James R. Groch sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $30.00, for a total value of $900,000.00. Following the transaction, the chief financial officer now directly owns 510,483 shares of the company’s stock, valued at approximately $15,314,490. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Lafitte sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $33.01, for a total value of $495,150.00. Following the completion of the transaction, the insider now directly owns 323,053 shares in the company, valued at $10,663,979.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,000 shares of company stock worth $5,185,050. 1.10% of the stock is currently owned by corporate insiders.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is 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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