CBRE Group Inc. (CBG) Stake Increased by Retirement Systems of Alabama
Retirement Systems of Alabama boosted its stake in shares of CBRE Group Inc. (NYSE:CBG) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 548,778 shares of the company’s stock after buying an additional 19,774 shares during the period. Retirement Systems of Alabama’s holdings in CBRE Group were worth $14,532,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of CBG. Trust Department MB Financial Bank N A increased its stake in shares of CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock valued at $108,000 after buying an additional 2,094 shares in the last quarter. IFP Advisors Inc increased its stake in shares of CBRE Group by 10.7% in the first quarter. IFP Advisors Inc now owns 4,935 shares of the company’s stock valued at $142,000 after buying an additional 476 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of CBRE Group by 0.8% in the second quarter. Integrated Investment Consultants LLC now owns 8,154 shares of the company’s stock valued at $216,000 after buying an additional 62 shares in the last quarter. Parkwood LLC purchased a new stake in shares of CBRE Group during the second quarter valued at $247,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of CBRE Group during the first quarter valued at $279,000. Hedge funds and other institutional investors own 95.71% of the company’s stock.
Shares of CBRE Group Inc. (NYSE:CBG) traded up 1.23% during mid-day trading on Friday, reaching $27.98. 2,849,046 shares of the company traded hands. CBRE Group Inc. has a 52-week low of $22.74 and a 52-week high of $38.49. The stock’s 50 day moving average is $28.99 and its 200 day moving average is $28.84. The stock has a market capitalization of $9.38 billion, a PE ratio of 17.72 and a beta of 1.94.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. CBRE Group had a return on equity of 26.58% and a net margin of 4.28%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. On average, analysts anticipate that CBRE Group Inc. will post $2.22 earnings per share for the current year.
Separately, Zacks Investment Research upgraded shares of CBRE Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th.
In other news, Director Holdings L.P. Valueact acquired 2,200 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average cost of $28.40 per share, with a total value of $62,480.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James R. Groch sold 20,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the sale, the chief financial officer now directly owns 538,281 shares of the company’s stock, valued at $16,148,430. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is 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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