Signature Financial Management Inc. Has $302,000 Stake in CBRE Group, Inc. (CBG)
Signature Financial Management Inc. maintained its position in shares of CBRE Group, Inc. (NYSE:CBG) during the second quarter, Holdings Channel reports. The firm owned 8,300 shares of the financial services provider’s stock at the end of the second quarter. Signature Financial Management Inc.’s holdings in CBRE Group were worth $302,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CBG. State of Alaska Department of Revenue purchased a new position in shares of CBRE Group during the first quarter worth approximately $116,000. Harbour Capital Advisors LLC purchased a new position in shares of CBRE Group during the first quarter worth approximately $118,000. Pettee Investors Inc. purchased a new position in shares of CBRE Group during the first quarter worth approximately $203,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of CBRE Group during the first quarter worth approximately $206,000. Finally, Harbor Advisors LLC purchased a new position in shares of CBRE Group during the first quarter worth approximately $209,000. Institutional investors and hedge funds own 96.44% of the company’s stock.
CBRE Group, Inc. (NYSE:CBG) opened at 35.77 on Friday. The company has a 50 day moving average price of $37.09 and a 200-day moving average price of $35.07. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 17.46 and a beta of 1.83. CBRE Group, Inc. has a 52 week low of $25.40 and a 52 week high of $38.99.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. Equities analysts predict that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
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A number of research analysts recently commented on CBG shares. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, July 7th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $36.00 target price 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 target price for the company. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Monday, April 17th. Finally, Barclays PLC upped their target price on CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $39.40.
In related news, CEO William F. Concannon sold 20,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 233,896 shares in the company, valued at approximately $8,909,098.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Concannon sold 15,000 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $36.57, for a total value of $548,550.00. Following the completion of the sale, the chief executive officer now owns 238,376 shares of the company’s stock, valued at $8,717,410.32. The disclosure for this sale can be found here. Insiders sold a total of 75,627 shares of company stock valued at $2,822,306 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
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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