Public Employees Retirement System of Ohio Has $20.33 Million Holdings in CBRE Group, Inc. (CBG)
Public Employees Retirement System of Ohio decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBG) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 558,470 shares of the financial services provider’s stock after selling 6,829 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.17% of CBRE Group worth $20,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of CBG. Harbour Capital Advisors LLC bought a new stake in CBRE Group during the 1st quarter valued at $118,000. GQG Partners LLC bought a new stake in CBRE Group during the 2nd quarter valued at $122,000. BB&T Investment Services Inc. bought a new stake in CBRE Group during the 2nd quarter valued at $125,000. Advisor Group Inc. raised its holdings in CBRE Group by 6.6% during the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 337 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in CBRE Group during the 1st quarter valued at $206,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.
CBG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 target price on shares of CBRE Group in a report on Friday, July 21st. Barclays PLC boosted 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 set a “neutral” rating and a $41.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of CBRE Group in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.60.
CBRE Group, Inc. (NYSE CBG) traded down 0.28% on Monday, hitting $39.48. 170,800 shares of the stock traded hands. The company’s 50 day moving average price is $37.36 and its 200-day moving average price is $35.99. CBRE Group, Inc. has a 52-week low of $25.40 and a 52-week high of $39.63. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 19.27 and a beta of 1.82.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, analysts forecast that CBRE Group, Inc. will post $2.57 earnings per share for the current fiscal year.
In other news, EVP Laurence H. Midler sold 3,139 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $36.00, for a total transaction of $113,004.00. Following the sale, the executive vice president now directly owns 90,541 shares in the company, valued at approximately $3,259,476. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Concannon sold 20,000 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $38.09, for a total transaction of $761,800.00. Following the sale, the chief executive officer now owns 233,896 shares in the company, valued at $8,909,098.64. The disclosure for this sale can be found here. Insiders have sold a total of 5,715,787 shares of company stock worth $205,347,397 over the last 90 days. Insiders own 1.00% of the company’s stock.
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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