CBRE Group, Inc. (CBG) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors decreased its stake in shares of CBRE Group, Inc. (NYSE:CBG) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 671,351 shares of the financial services provider’s stock after selling 45,950 shares during the period. Nationwide Fund Advisors owned 0.20% of CBRE Group worth $24,437,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Paloma Partners Management Co boosted its holdings in shares of CBRE Group by 1,236.6% during the 1st quarter. Paloma Partners Management Co now owns 100,188 shares of the financial services provider’s stock worth $3,485,000 after buying an additional 92,692 shares during the period. Logan Capital Management Inc. boosted its holdings in shares of CBRE Group by 1.6% during the 1st quarter. Logan Capital Management Inc. now owns 239,634 shares of the financial services provider’s stock worth $8,337,000 after buying an additional 3,885 shares during the period. Aviva PLC boosted its holdings in shares of CBRE Group by 1.5% during the 2nd quarter. Aviva PLC now owns 181,175 shares of the financial services provider’s stock worth $6,595,000 after buying an additional 2,720 shares during the period. RWC Asset Management LLP boosted its holdings in shares of CBRE Group by 60.3% during the 1st quarter. RWC Asset Management LLP now owns 393,273 shares of the financial services provider’s stock worth $13,682,000 after buying an additional 147,982 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of CBRE Group by 5.2% during the 1st quarter. Legal & General Group Plc now owns 1,364,404 shares of the financial services provider’s stock worth $47,464,000 after buying an additional 67,496 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.
In other CBRE Group news, EVP Laurence H. Midler sold 14,614 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $35.42, for a total transaction of $517,627.88. Following the completion of the transaction, the executive vice president now owns 111,720 shares in the company, valued at $3,957,122.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Lafitte sold 15,000 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $37.02, for a total transaction of $555,300.00. Following the transaction, the insider now 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 have sold 220,787 shares of company stock valued at $8,025,747 in the last quarter. Company insiders own 1.00% of the company’s stock.
Several analysts recently commented on the stock. Barclays PLC lifted their target price on shares of CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of CBRE Group in a report on Wednesday, August 2nd. UBS AG assumed coverage on shares of CBRE Group in a report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price for the company. BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 target price on shares of CBRE Group in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $39.60.
Shares of CBRE Group, Inc. (NYSE CBG) opened at 36.62 on Friday. The firm has a 50-day moving average of $36.36 and a 200 day moving average of $35.62. CBRE Group, Inc. has a 52 week low of $25.40 and a 52 week high of $38.99. The firm has a market cap of $12.34 billion, a PE ratio of 17.87 and a beta of 1.83.
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 analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. Equities research analysts predict that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.
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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