CBRE Group Inc. (CBG) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC lowered its position in shares of CBRE Group Inc. (NYSE:CBG) by 51.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 51,388 shares of the company’s stock after selling 53,700 shares during the period. ClariVest Asset Management LLC’s holdings in CBRE Group were worth $1,361,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Trust Department MB Financial Bank N A boosted 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 worth $108,000 after buying an additional 2,094 shares during the period. IFP Advisors Inc boosted its position in CBRE Group by 10.7% in the first quarter. IFP Advisors Inc now owns 4,935 shares of the company’s stock worth $142,000 after buying an additional 476 shares during the period. Huntington National Bank boosted its position in CBRE Group by 340.3% in the second quarter. Huntington National Bank now owns 6,631 shares of the company’s stock worth $176,000 after buying an additional 5,125 shares during the period. Integrated Investment Consultants LLC boosted its position in CBRE Group by 0.8% in the second quarter. Integrated Investment Consultants LLC now owns 8,154 shares of the company’s stock worth $216,000 after buying an additional 62 shares during the period. Finally, Parkwood LLC bought a new position in CBRE Group during the second quarter worth about $247,000. 95.71% of the stock is currently owned by institutional investors and hedge funds.
CBRE Group Inc. (NYSE:CBG) traded down 1.55% during midday trading on Thursday, hitting $26.61. 1,833,596 shares of the company were exchanged. The stock has a 50 day moving average of $28.58 and a 200 day moving average of $28.80. CBRE Group Inc. has a 1-year low of $22.74 and a 1-year high of $38.49. The firm has a market capitalization of $8.92 billion, a PE ratio of 16.85 and a beta of 1.99.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. On average, equities analysts predict that CBRE Group Inc. will post $2.20 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on CBG. Wedbush began coverage on shares of CBRE Group in a research report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 price objective on the stock. Zacks Investment Research cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $38.60.
In other news, Director Holdings L.P. Valueact acquired 1,212,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $28.28 per share, for a total transaction of $34,275,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James R. Groch sold 20,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer now owns 538,281 shares in the company, valued at approximately $16,148,430. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
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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