Fiera Capital Corp trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,357,255 shares of the financial services provider’s stock after selling 132,310 shares during the period. Fiera Capital Corp owned approximately 0.40% of CBRE Group worth $49,404,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in CBRE Group during the 1st quarter valued at approximately $116,000. Harbour Capital Advisors LLC acquired a new stake in CBRE Group during the 1st quarter valued at approximately $118,000. Pettee Investors Inc. acquired a new stake in CBRE Group during the 1st quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in CBRE Group during the 1st quarter valued at approximately $206,000. Finally, Harbor Advisors LLC acquired a new stake in CBRE Group during the 1st quarter valued at approximately $209,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
CBRE Group, Inc. (NYSE CBG) traded down 0.24% during trading on Wednesday, hitting $37.22. 87,981 shares of the company traded hands. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 18.16 and a beta of 1.83. The company’s 50-day moving average is $36.49 and its 200 day moving average is $35.57. CBRE Group, Inc. has a 52-week low of $25.40 and a 52-week high of $38.99.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
CBG has been the subject of several research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC lifted their price objective on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, July 7th. UBS AG initiated coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $39.60.
In related news, insider Robert E. Sulentic sold 90,000 shares of CBRE Group stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $35.91, for a total value of $3,231,900.00. Following the transaction, the insider now directly owns 833,590 shares in the company, valued at approximately $29,934,216.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Lafitte sold 15,000 shares of CBRE Group stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the transaction, the insider now owns 369,774 shares in the company, valued at $13,689,033.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,787 shares of company stock worth $8,025,747. 1.00% of the stock is currently owned by insiders.
CBRE Group Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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.
Want to see what other hedge funds are holding CBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBG).
Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.