CBRE Group Inc. (CBG) Trading Up 6%
CBRE Group Inc. (NYSE:CBG)’s share price was up 6% 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 equities analysts recently weighed in on CBG shares. Keefe, Bruyette & Woods started coverage on shares of CBRE Group in a report on Monday, May 16th. They issued a “market perform” rating and a $32.00 price objective for the company. TheStreet upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.00.
The company has a market capitalization of $8.75 billion and a price-to-earnings ratio of 16.49. The firm’s 50 day moving average price is $28.43 and its 200 day moving average price is $28.61.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.78 billion. CBRE Group’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. Equities research analysts predict that CBRE Group Inc. will post $2.26 earnings per share for the current year.
In other news, COO Michael J. Lafitte sold 15,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $31.04, for a total transaction of $465,600.00. Following the transaction, the chief operating officer now directly owns 369,612 shares in the company, valued at $11,472,756.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Kantor sold 10,980 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $29.17, for a total transaction of $320,286.60. Following the transaction, the director now owns 61,392 shares in the company, valued at $1,790,804.64. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in CBRE Group by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 975,068 shares of the company’s stock worth $33,718,000 after buying an additional 101,331 shares in the last quarter. Rail Splitter Capital Management LLC increased its position in CBRE Group by 9.9% in the fourth quarter. Rail Splitter Capital Management LLC now owns 412,479 shares of the company’s stock worth $14,264,000 after buying an additional 37,320 shares in the last quarter. Jennison Associates LLC increased its position in 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. I.G. Investment Management LTD. increased its position in CBRE Group by 1.5% in the fourth quarter. I.G. Investment Management LTD. now owns 75,031 shares of the company’s stock worth $2,595,000 after buying an additional 1,100 shares in the last quarter. Finally, US Bancorp DE increased its position in CBRE Group by 22.9% in the fourth quarter. US Bancorp DE now owns 71,825 shares of the company’s stock worth $2,484,000 after buying an additional 13,403 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.