CBRE Group Inc. (CBG) Sees Large Volume Increase
Shares of CBRE Group Inc. (NYSE:CBG) saw an uptick in trading volume on Tuesday . 3,024,737 shares traded hands during trading, a decline of 13% from the previous session’s volume of 3,461,193 shares.The stock last traded at $24.43 and had previously closed at $25.93.
Several brokerages recently issued reports on CBG. TheStreet raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. Keefe, Bruyette & Woods began coverage on shares of CBRE Group in a research note on Monday, May 16th. They set a “market perform” rating and a $32.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $40.00.
The firm has a market cap of $8.23 billion and a PE ratio of 15.50. The firm’s 50-day moving average price is $28.59 and its 200-day moving average price is $28.69.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The business earned $2.85 billion during the quarter, compared to the consensus estimate of $2.78 billion. The company’s revenue was up 38.7% compared to the same quarter last year. On average, equities research analysts anticipate that CBRE Group Inc. will post $2.27 EPS for the current fiscal year.
In related news, Director Michael Kantor sold 10,980 shares of CBRE Group stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $29.17, for a total value of $320,286.60. Following the transaction, the director now directly owns 61,392 shares of the company’s stock, valued at $1,790,804.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James R. Groch sold 30,000 shares of CBRE Group stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer now directly owns 548,281 shares in the company, valued at $16,448,430. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of CBRE Group by 78.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,783,692 shares of the company’s stock valued at $199,999,000 after buying an additional 2,549,576 shares during the last quarter. Janus Capital Management increased its position in shares of CBRE Group by 32.0% in the third quarter. Janus Capital Management now owns 5,523,284 shares of the company’s stock valued at $176,745,000 after buying an additional 1,339,747 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CBRE Group by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 24,216,166 shares of the company’s stock valued at $837,394,000 after buying an additional 736,476 shares during the last quarter. Winton Capital Group Ltd increased its position in shares of CBRE Group by 81.4% in the fourth quarter. Winton Capital Group Ltd now owns 1,065,311 shares of the company’s stock valued at $36,838,000 after buying an additional 478,003 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of CBRE Group by 11.5% in the fourth quarter. Jennison Associates LLC now owns 4,194,076 shares of the company’s stock valued at $145,031,000 after buying an additional 433,951 shares during the last quarter.
CBRE Group, Inc is a holding company that conducts all of its operations through its indirect subsidiaries. The Company is a commercial real estate services and investment firm. The Company operates through the segments: Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management, and Development Services.
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