Insider Selling: CBRE Group, Inc. (CBG) Insider Sells 5,500,000 Shares of Stock
CBRE Group, Inc. (NYSE:CBG) insider Valueact Capital Master Fund, sold 5,500,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of CBRE Group, Inc. (NYSE CBG) traded up 0.79% during trading on Tuesday, hitting $36.94. 1,448,249 shares of the stock were exchanged. CBRE Group, Inc. has a 12-month low of $25.40 and a 12-month high of $38.99. The firm has a 50 day moving average of $36.33 and a 200-day moving average of $35.62. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 18.03 and a beta of 1.83.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) 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 firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts forecast that CBRE Group, Inc. will post $2.57 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Insider Selling: CBRE Group, Inc. (CBG) Insider Sells 5,500,000 Shares of Stock” was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/09/19/insider-selling-cbre-group-inc-cbg-insider-sells-5500000-shares-of-stock.html.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Paloma Partners Management Co lifted its stake in CBRE Group by 1,236.6% during the first quarter. Paloma Partners Management Co now owns 100,188 shares of the financial services provider’s stock worth $3,485,000 after purchasing an additional 92,692 shares during the last quarter. Logan Capital Management Inc. lifted its stake in CBRE Group by 1.6% during the first quarter. Logan Capital Management Inc. now owns 239,634 shares of the financial services provider’s stock worth $8,337,000 after purchasing an additional 3,885 shares during the last quarter. Aviva PLC lifted its stake in CBRE Group by 1.5% during the second quarter. Aviva PLC now owns 181,175 shares of the financial services provider’s stock worth $6,595,000 after purchasing an additional 2,720 shares during the last quarter. Hosking Partners LLP lifted its stake in CBRE Group by 1.6% during the second quarter. Hosking Partners LLP now owns 2,425,070 shares of the financial services provider’s stock worth $88,273,000 after purchasing an additional 38,977 shares during the last quarter. Finally, RWC Asset Management LLP lifted its stake in CBRE Group by 60.3% during the first quarter. RWC Asset Management LLP now owns 393,273 shares of the financial services provider’s stock worth $13,682,000 after purchasing an additional 147,982 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.
CBG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a report on Friday, July 21st. Barclays PLC lifted their target price on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, July 7th. UBS AG initiated coverage on shares of CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $39.60.
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.
Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.