Mason Street Advisors LLC bought a new stake in shares of CBRE Group Inc. (NYSE:CBG) during the second quarter, Holdings Channel reports. The firm bought 39,308 shares of the company’s stock, valued at approximately $1,041,000.
Other institutional investors also recently bought and sold shares of the company. Algert Global LLC bought a new position in CBRE Group during the first quarter valued at $1,832,000. FDO Partners LLC bought a new position in CBRE Group during the first quarter valued at $969,000. Rehmann Capital Advisory Group bought a new position in CBRE Group during the first quarter valued at $279,000. Prudential Financial Inc. raised its position in CBRE Group by 3.1% in the first quarter. Prudential Financial Inc. now owns 2,773,645 shares of the company’s stock valued at $79,936,000 after buying an additional 84,330 shares during the period. Finally, Ngam Advisors L.P. raised its position in CBRE Group by 234.5% in the first quarter. Ngam Advisors L.P. now owns 155,546 shares of the company’s stock valued at $4,483,000 after buying an additional 109,044 shares during the period. Institutional investors own 95.71% of the company’s stock.
CBRE Group Inc. (NYSE:CBG) opened at 28.27 on Tuesday. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 17.90 and a beta of 1.94. The stock has a 50 day moving average price of $29.19 and a 200-day moving average price of $28.85. CBRE Group Inc. has a 1-year low of $22.74 and a 1-year high of $38.49.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The firm earned $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. Equities analysts predict that CBRE Group Inc. will post $2.22 earnings per share for the current year.
Separately, Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th.
In other news, insider Michael J. Lafitte sold 25,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $29.90, for a total transaction of $747,500.00. Following the completion of the transaction, the insider now directly owns 338,053 shares in the company, valued at approximately $10,107,784.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Valueact Capital Master Fund, acquired 1,502,200 shares of CBRE Group stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $28.31 per share, with a total value of $42,527,282.00. The disclosure for this purchase can be found here. Insiders own 1.10% 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 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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