Hedeker Wealth LLC decreased its stake in CBRE Group Inc. (NYSE:CBG) by 61.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,755 shares of the company’s stock after selling 34,510 shares during the period. Hedeker Wealth LLC’s holdings in CBRE Group were worth $576,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC increased 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 valued at $216,000 after buying an additional 62 shares in the last quarter. IFP Advisors Inc increased 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 in the last quarter. FirstMerit Bank N A Trustee increased its stake in CBRE Group by 2.7% in the second quarter. FirstMerit Bank N A Trustee now owns 22,595 shares of the company’s stock valued at $598,000 after buying an additional 603 shares in the last quarter. DNB Asset Management AS increased its stake in CBRE Group by 5.2% in the second quarter. DNB Asset Management AS now owns 14,179 shares of the company’s stock valued at $375,000 after buying an additional 700 shares in the last quarter. Finally, Calamos Advisors LLC increased its stake in CBRE Group by 1.3% in the second quarter. Calamos Advisors LLC now owns 74,712 shares of the company’s stock valued at $1,978,000 after buying an additional 949 shares in the last quarter. 95.71% of the stock is currently owned by institutional investors.
CBRE Group Inc. (NYSE:CBG) traded down 0.30% during mid-day trading on Friday, hitting $26.52. 2,225,979 shares of the stock traded hands. CBRE Group Inc. has a 12-month low of $22.74 and a 12-month high of $38.49. The company has a 50 day moving average of $28.50 and a 200-day moving average of $28.78. The stock has a market cap of $8.89 billion, a PE ratio of 16.80 and a beta of 1.99.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $3.20 billion for 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%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Equities research analysts forecast that CBRE Group Inc. will post $2.20 earnings per share for the current year.
Several research firms have weighed in on CBG. Zacks Investment Research downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Wedbush began coverage on shares of CBRE Group in a research report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.60.
In related news, insider Valueact Capital Master Fund, acquired 1,502,200 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $28.31 per share, with a total value of $42,527,282.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James R. Groch sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 538,281 shares in the company, valued at approximately $16,148,430. The disclosure for this sale can be found here. 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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