Brandon B. Boze Sells 3,000,000 Shares of CBRE Group Inc (NYSE:CBRE) Stock

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CBRE Group Inc (NYSE:CBRE) Director Brandon B. Boze sold 3,000,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $53.86, for a total value of $161,580,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CBRE opened at $53.92 on Thursday. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.31 and a beta of 1.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.17. CBRE Group Inc has a one year low of $37.45 and a one year high of $56.47. The stock’s fifty day moving average is $52.49 and its 200-day moving average is $50.83.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.59 billion. CBRE Group had a return on equity of 24.14% and a net margin of 4.79%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Analysts forecast that CBRE Group Inc will post 3.75 EPS for the current fiscal year.

A number of research firms have issued reports on CBRE. Raymond James raised their target price on CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. UBS Group raised their target price on CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Compass Point began coverage on CBRE Group in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $54.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $57.40.

Several institutional investors and hedge funds have recently modified their holdings of CBRE. APG Asset Management N.V. increased its holdings in shares of CBRE Group by 125.4% during the second quarter. APG Asset Management N.V. now owns 4,537,700 shares of the financial services provider’s stock valued at $204,412,000 after purchasing an additional 2,524,700 shares during the period. Cohen & Steers Inc. increased its holdings in shares of CBRE Group by 133.4% during the second quarter. Cohen & Steers Inc. now owns 4,321,807 shares of the financial services provider’s stock valued at $221,709,000 after purchasing an additional 2,470,334 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of CBRE Group by 292.9% during the second quarter. Nuveen Asset Management LLC now owns 2,864,462 shares of the financial services provider’s stock valued at $146,947,000 after purchasing an additional 2,135,467 shares during the period. BlackRock Inc. grew its holdings in CBRE Group by 7.2% during the second quarter. BlackRock Inc. now owns 24,629,194 shares of the financial services provider’s stock worth $1,263,479,000 after acquiring an additional 1,646,800 shares during the period. Finally, Invesco Ltd. grew its holdings in CBRE Group by 91.6% during the second quarter. Invesco Ltd. now owns 2,197,198 shares of the financial services provider’s stock worth $112,716,000 after acquiring an additional 1,050,190 shares during the period. 93.82% of the stock is currently owned by institutional investors.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

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