Geode Capital Management LLC boosted its position in CBRE Group Inc (NYSE:CBG) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,125,730 shares of the financial services provider’s stock after purchasing an additional 116,064 shares during the period. Geode Capital Management LLC’s holdings in CBRE Group were worth $135,088,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Invictus RG purchased a new stake in CBRE Group in the third quarter worth approximately $104,000. Fieldpoint Private Securities LLC bought a new stake in CBRE Group in the third quarter valued at approximately $104,000. Cerebellum GP LLC bought a new stake in CBRE Group in the fourth quarter valued at approximately $127,000. Tower Research Capital LLC TRC lifted its position in CBRE Group by 818.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 2,726 shares during the last quarter. Finally, Zions Bancorporation lifted its position in CBRE Group by 5,136.8% in the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 3,493 shares during the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.
CBRE Group Inc (NYSE:CBG) opened at $47.59 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $15,950.09, a P/E ratio of 23.44, a P/E/G ratio of 1.18 and a beta of 1.72. CBRE Group Inc has a twelve month low of $32.30 and a twelve month high of $47.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%.
Several analysts have weighed in on CBG shares. Evercore ISI started coverage on CBRE Group in a research report on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price objective for the company. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Barclays reiterated a “buy” rating and issued a $47.00 price objective on shares of CBRE Group in a research report on Wednesday, December 27th. ValuEngine upgraded CBRE Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, JMP Securities downgraded CBRE Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. CBRE Group currently has an average rating of “Buy” and a consensus price target of $47.28.
In related news, insider Robert E. Sulentic sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $42.56, for a total transaction of $1,702,400.00. Following the completion of the transaction, the insider now owns 597,971 shares in the company, valued at $25,449,645.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 6,033 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $47.00, for a total value of $283,551.00. Following the transaction, the insider now owns 272,755 shares of the company’s stock, valued at approximately $12,819,485. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,175,707 shares of company stock valued at $236,657,635. 1.00% of the stock is owned by corporate insiders.
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About CBRE Group
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.
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