Separately, Zacks Investment Research cut shares of CBRE Group from a hold rating to a sell rating in a research note on Wednesday, September 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $38.60.
Shares of CBRE Group (NYSE:CBG) traded up 0.15% during mid-day trading on Wednesday, reaching $27.60. 373,414 shares of the company traded hands. The stock’s 50-day moving average is $28.82 and its 200-day moving average is $28.85. The company has a market capitalization of $9.25 billion, a P/E ratio of 17.48 and a beta of 1.99. CBRE Group has a 52 week low of $22.74 and a 52 week high of $38.49.
CBRE Group (NYSE:CBG) last issued its quarterly 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 analysts’ expectations of $3.19 billion. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. CBRE Group’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, equities analysts predict that CBRE Group will post $2.22 EPS for the current fiscal year.
In other news, insider Michael J. Lafitte sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the completion of the sale, the insider now owns 338,053 shares in the company, valued at approximately $10,107,784.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Valueact Capital Master Fund, bought 1,502,200 shares of CBRE Group stock in a transaction dated Wednesday, August 3rd. The stock was purchased 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. 1.10% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. 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 valued at $142,000 after buying an additional 476 shares during the period. Ngam Advisors L.P. boosted its stake in shares of 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. BlackRock Group LTD boosted its stake in shares of CBRE Group by 0.7% in the first quarter. BlackRock Group LTD now owns 2,283,861 shares of the company’s stock valued at $65,820,000 after buying an additional 15,314 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of CBRE Group by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,729,996 shares of the company’s stock valued at $222,778,000 after buying an additional 72,537 shares during the period. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of CBRE Group by 4.2% in the first quarter. BlackRock Japan Co. Ltd now owns 401,844 shares of the company’s stock valued at $11,581,000 after buying an additional 16,135 shares during the period. Institutional investors own 95.71% of the company’s stock.
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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