CBRE Group Inc. (CBG) Trading 6% Higher
CBRE Group Inc. (NYSE:CBG) shares traded up 6% during trading on Friday . The company traded as high as $26.28 and last traded at $26.10, with a volume of 3,978,586 shares traded. The stock had previously closed at $24.62.
A number of brokerages have recently issued reports on CBG. TheStreet raised CBRE Group from a “hold” rating to a “buy” rating in a research report on Monday, May 2nd. Keefe, Bruyette & Woods began coverage on CBRE Group in a research report 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 given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.00.
The firm’s 50 day moving average is $28.48 and its 200 day moving average is $28.66. The stock has a market capitalization of $8.75 billion and a PE ratio of 16.49.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results 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. The company earned $2.85 billion during the quarter, compared to analyst estimates of $2.78 billion. The company’s revenue was up 38.7% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. On average, equities research analysts anticipate that CBRE Group Inc. will post $2.26 EPS for the current year.
In related news, CFO James R. Groch sold 10,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $30.20, for a total value of $302,000.00. Following the completion of the sale, the chief financial officer now directly owns 548,281 shares in the company, valued at $16,558,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James R. Groch sold 30,000 shares of the company’s 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 sale, the chief financial officer now owns 548,281 shares of the company’s stock, valued at $16,448,430. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of CBG. Wells Fargo & Company MN boosted its stake 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 worth $199,999,000 after buying an additional 2,549,576 shares in the last quarter. Janus Capital Management boosted its stake 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 worth $176,745,000 after buying an additional 1,339,747 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 worth $837,394,000 after buying an additional 736,476 shares in the last quarter. Winton Capital Group Ltd boosted its stake 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 worth $36,838,000 after buying an additional 478,003 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake 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 worth $145,031,000 after buying an additional 433,951 shares in 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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