Retirement Systems of Alabama increased its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 488,899 shares of the financial services provider’s stock after buying an additional 462 shares during the period. Retirement Systems of Alabama’s holdings in CBRE Group were worth $17,796,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CBG. State of Alaska Department of Revenue bought a new position in shares of CBRE Group during the first quarter valued at about $116,000. Harbour Capital Advisors LLC bought a new position in shares of CBRE Group during the first quarter valued at about $118,000. Pettee Investors Inc. bought a new position in shares of CBRE Group during the first quarter valued at about $203,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of CBRE Group during the first quarter valued at about $206,000. Finally, Harbor Advisors LLC bought a new position in shares of CBRE Group during the first quarter valued at about $209,000. Institutional investors and hedge funds own 96.44% of the company’s stock.

Shares of CBRE Group, Inc. (NYSE:CBG) opened at 37.48 on Tuesday. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 18.29 and a beta of 1.83. The stock’s 50 day moving average price is $36.73 and its 200 day moving average price is $34.80. CBRE Group, Inc. has a 12 month low of $25.40 and a 12 month high of $38.99.

CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.

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Several equities analysts have recently issued reports on CBG shares. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a research note on Tuesday, May 30th. UBS AG started coverage on CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a research note on Monday, April 17th. Finally, Barclays PLC lifted their price objective on CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $39.40.

In related news, CEO William F. Concannon sold 20,000 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the transaction, the chief executive officer now owns 233,896 shares of the company’s stock, valued at $8,909,098.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Lafitte sold 15,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total value of $555,300.00. Following the completion of the transaction, the insider now directly owns 369,774 shares of the company’s stock, valued at approximately $13,689,033.48. The disclosure for this sale can be found here. Insiders sold 75,627 shares of company stock valued at $2,822,306 in the last ninety days. Company insiders own 1.00% of the company’s stock.

CBRE Group Company Profile

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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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Institutional Ownership by Quarter for CBRE Group (NYSE:CBG)

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