ING Groep NV purchased a new position in shares of CBRE Group Inc. (NYSE:CBG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,298 shares of the company’s stock, valued at approximately $273,000.
Other large investors have also 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 acquired a new stake in CBRE Group during the second quarter worth approximately $247,000. Finally, Seven Eight Capital LLC boosted its stake in CBRE Group by 1,137.2% in the first quarter. Seven Eight Capital LLC now owns 10,009 shares of the company’s stock worth $288,000 after buying an additional 9,200 shares during the period. Institutional investors own 95.71% of the company’s stock.
Shares of CBRE Group Inc. (NYSE:CBG) traded down 1.59% on Thursday, hitting $26.60. The stock had a trading volume of 2,300,006 shares. The stock has a 50 day moving average price of $28.58 and a 200-day moving average price of $28.80. CBRE Group Inc. has a 12-month low of $22.74 and a 12-month high of $38.49. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 16.85 and a beta of 1.99.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. CBRE Group had a return on equity of 26.58% and a net margin of 4.28%. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm posted $0.42 EPS. CBRE Group’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities analysts expect that CBRE Group Inc. will post $2.20 earnings per share for the current year.
A number of equities research analysts have commented on CBG shares. Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Wedbush started coverage on CBRE Group in a report on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. CBRE Group currently has an average rating of “Hold” and an average price target of $38.60.
In related news, CFO James R. Groch sold 20,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 538,281 shares of the company’s stock, valued at approximately $16,148,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Holdings L.P. Valueact bought 1,212,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were bought at an average cost of $28.28 per share, with a total value of $34,275,360.00. The disclosure for this purchase can be found here. Corporate insiders own 1.10% 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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