Schwab Charles Investment Management Inc. Has $35.78 Million Position in CBRE Group, Inc. (CBG)
Schwab Charles Investment Management Inc. increased its holdings in CBRE Group, Inc. (NYSE:CBG) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 982,973 shares of the financial services provider’s stock after purchasing an additional 24,191 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.29% of CBRE Group worth $35,781,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CBRE Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 27,822,201 shares of the financial services provider’s stock worth $967,934,000 after purchasing an additional 1,024,363 shares during the period. BlackRock Inc. raised its holdings in CBRE Group by 3,425.0% in the 1st quarter. BlackRock Inc. now owns 19,371,641 shares of the financial services provider’s stock worth $673,940,000 after purchasing an additional 18,822,095 shares during the period. State Street Corp raised its holdings in CBRE Group by 0.7% in the 1st quarter. State Street Corp now owns 12,216,341 shares of the financial services provider’s stock worth $425,001,000 after purchasing an additional 88,864 shares during the period. JPMorgan Chase & Co. raised its holdings in CBRE Group by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 11,842,380 shares of the financial services provider’s stock worth $411,997,000 after purchasing an additional 218,386 shares during the period. Finally, Morgan Stanley raised its holdings in CBRE Group by 181.3% in the 1st quarter. Morgan Stanley now owns 3,415,279 shares of the financial services provider’s stock worth $118,818,000 after purchasing an additional 2,201,273 shares during the period. 95.66% of the stock is owned by institutional investors.
CBG has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. Barclays PLC upped their price target on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. UBS AG initiated coverage on CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target for the company. BidaskClub cut CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $39.60.
CBRE Group, Inc. (NYSE CBG) opened at 36.99 on Tuesday. The company has a 50-day moving average price of $36.47 and a 200-day moving average price of $35.56. The firm has a market cap of $12.46 billion, a PE ratio of 18.05 and a beta of 1.83. CBRE Group, Inc. has a 12-month low of $25.40 and a 12-month high of $38.99.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share 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 for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
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In other CBRE Group news, insider Michael J. Lafitte sold 15,000 shares of CBRE Group stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $37.02, for a total value of $555,300.00. Following the sale, the insider now owns 369,774 shares of the company’s stock, valued at approximately $13,689,033.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laurence H. Midler sold 9,632 shares of CBRE Group stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $36.24, for a total value of $349,063.68. Following the completion of the sale, the executive vice president now directly owns 111,720 shares in the company, valued at approximately $4,048,732.80. The disclosure for this sale can be found here. Insiders sold a total of 217,648 shares of company stock worth $7,912,743 in the last ninety days. 1.00% of the stock is owned by corporate insiders.
CBRE Group 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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