CBRE Group, Inc. (CBG) Stake Boosted by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. raised its stake in CBRE Group, Inc. (NYSE:CBG) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 13,970 shares of the financial services provider’s stock after buying an additional 93 shares during the period. Wetherby Asset Management Inc.’s holdings in CBRE Group were worth $509,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CBG. Paloma Partners Management Co increased its position in shares of CBRE Group by 1,236.6% in the first quarter. Paloma Partners Management Co now owns 100,188 shares of the financial services provider’s stock valued at $3,485,000 after buying an additional 92,692 shares in the last quarter. State of Tennessee Treasury Department increased its position in shares of CBRE Group by 60.2% in the first quarter. State of Tennessee Treasury Department now owns 788,906 shares of the financial services provider’s stock valued at $27,446,000 after buying an additional 296,381 shares in the last quarter. Logan Capital Management Inc. increased its position in shares of CBRE Group by 1.6% in the first quarter. Logan Capital Management Inc. now owns 239,634 shares of the financial services provider’s stock valued at $8,337,000 after buying an additional 3,885 shares in the last quarter. Legal & General Group Plc increased its position in shares of CBRE Group by 5.2% in the first quarter. Legal & General Group Plc now owns 1,364,404 shares of the financial services provider’s stock valued at $47,464,000 after buying an additional 67,496 shares in the last quarter. Finally, RWC Asset Management LLP increased its position in shares of CBRE Group by 60.3% in the first quarter. RWC Asset Management LLP now owns 393,273 shares of the financial services provider’s stock valued at $13,682,000 after buying an additional 147,982 shares in the last quarter. 96.44% of the stock is currently owned by institutional investors.
CBRE Group, Inc. (NYSE:CBG) opened at 35.77 on Friday. The firm has a 50-day moving average price of $37.09 and a 200 day moving average price of $35.07. CBRE Group, Inc. has a 12 month low of $25.40 and a 12 month high of $38.99. The company has a market capitalization of $12.05 billion, a P/E ratio of 17.46 and a beta of 1.83.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $3.39 billion. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Analysts expect that CBRE Group, Inc. will post $2.57 EPS for the current year.
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CBG has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a research report on Wednesday, August 2nd. Barclays PLC lifted their price target on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. UBS AG initiated coverage on CBRE Group in a research report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target on the stock. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price target on shares of CBRE Group in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $39.40.
In other news, CFO Gil Borok sold 25,627 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $37.33, for a total transaction of $956,655.91. Following the transaction, the chief financial officer now owns 76,651 shares in the company, valued at $2,861,381.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Concannon sold 15,000 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $36.57, for a total value of $548,550.00. Following the transaction, the chief executive officer now owns 238,376 shares in the company, valued at approximately $8,717,410.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,627 shares of company stock valued at $2,822,306. Insiders own 1.00% 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 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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