CBRE Group Inc (CBG) Shares Sold by First Republic Investment Management Inc.
First Republic Investment Management Inc. reduced its holdings in CBRE Group Inc (NYSE:CBG) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,571 shares of the financial services provider’s stock after selling 2,264 shares during the quarter. First Republic Investment Management Inc.’s holdings in CBRE Group were worth $1,385,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Toronto Dominion Bank increased its holdings in shares of CBRE Group by 25.6% during the second quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock valued at $3,709,000 after acquiring an additional 20,739 shares in the last quarter. Aviva PLC increased its holdings in shares of CBRE Group by 1.5% during the second quarter. Aviva PLC now owns 181,175 shares of the financial services provider’s stock valued at $6,595,000 after acquiring an additional 2,720 shares in the last quarter. Hosking Partners LLP increased its holdings in shares of 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 valued at $88,273,000 after acquiring an additional 38,977 shares in the last quarter. Calamos Advisors LLC increased its holdings in shares of CBRE Group by 47.9% during the second quarter. Calamos Advisors LLC now owns 165,516 shares of the financial services provider’s stock valued at $6,025,000 after acquiring an additional 53,616 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its holdings in shares of CBRE Group by 57.8% during the second quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock valued at $3,686,000 after acquiring an additional 37,092 shares in the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.
Shares of CBRE Group Inc (NYSE CBG) opened at $43.20 on Thursday. The company has a market capitalization of $14,660.00, a P/E ratio of 16.35, a PEG ratio of 1.25 and a beta of 1.86. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. CBRE Group Inc has a 1-year low of $29.69 and a 1-year high of $44.04.
CBRE Group (NYSE:CBG) last announced its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. CBRE Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. sell-side analysts expect that CBRE Group Inc will post 2.67 EPS for the current year.
In related news, insider Calvin W. Frese, Jr. sold 25,000 shares of CBRE Group stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $40.04, for a total transaction of $1,001,000.00. Following the transaction, the insider now owns 246,473 shares of the company’s stock, valued at $9,868,778.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of CBRE Group stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $35.90, for a total value of $197,450,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,529,872 shares of company stock worth $326,639,541. 1.00% of the stock is owned by insiders.
Separately, Bank of America boosted their price objective on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $40.33.
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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