Standard Life Investments LTD reduced its position in CBRE Group Inc. (NYSE:CBG) by 13.1% during the second quarter, Holdings Channel reports. The firm owned 2,329,829 shares of the company’s stock after selling 351,940 shares during the period. Standard Life Investments LTD’s holdings in CBRE Group were worth $61,706,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Trust Department MB Financial Bank N A boosted its stake in CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock worth $108,000 after buying an additional 2,094 shares during the period. IFP Advisors Inc boosted its stake in CBRE Group by 10.7% in the first quarter. IFP Advisors Inc now owns 4,935 shares of the company’s stock worth $142,000 after buying an additional 476 shares during the period. Integrated Investment Consultants LLC boosted its stake in CBRE Group by 0.8% in the second quarter. Integrated Investment Consultants LLC now owns 8,154 shares of the company’s stock worth $216,000 after buying an additional 62 shares during the period. Parkwood LLC bought a new stake in CBRE Group during the second quarter worth approximately $247,000. Finally, Rehmann Capital Advisory Group bought a new stake in CBRE Group during the first quarter worth approximately $279,000. Institutional investors own 95.71% of the company’s stock.
CBRE Group Inc. (NYSE:CBG) traded down 0.22% during trading on Wednesday, reaching $27.56. 2,293,293 shares of the company’s stock were exchanged. The stock has a market capitalization of $9.23 billion, a PE ratio of 17.45 and a beta of 1.99. The stock has a 50-day moving average of $28.82 and a 200-day moving average of $28.85. CBRE Group Inc. has a 52 week low of $22.74 and a 52 week high of $38.49.
CBRE Group (NYSE:CBG) last released 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. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts anticipate that CBRE Group Inc. will post $2.22 EPS for the current year.
A number of research firms recently commented on CBG. Wedbush initiated coverage on shares of CBRE Group in a research note on Wednesday. They issued an “outperform” rating and a $35.00 target price for the company. Zacks Investment Research raised shares of CBRE Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.60.
In other news, insider Valueact Capital Master Fund, bought 1,502,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $28.31 per share, for a total transaction of $42,527,282.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Lafitte sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the sale, the insider now owns 338,053 shares in the company, valued at $10,107,784.70. The disclosure for this sale can be found here. Corporate 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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