Seven Bridges Advisors LLC Purchases 5,096 Shares of CBRE Group Inc. (CBG)
Seven Bridges Advisors LLC boosted its stake in CBRE Group Inc. (NYSE:CBG) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 45,293 shares of the company’s stock after buying an additional 5,096 shares during the period. CBRE Group comprises approximately 1.0% of Seven Bridges Advisors LLC’s investment portfolio, making the stock its 29th largest position. Seven Bridges Advisors LLC’s holdings in CBRE Group were worth $1,199,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of CBG. Norges Bank purchased a new stake in shares of CBRE Group during the fourth quarter valued at $87,172,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of CBRE Group during the first quarter valued at $33,134,000. TimesSquare Capital Management LLC boosted its stake in shares of CBRE Group by 33.5% in the first quarter. TimesSquare Capital Management LLC now owns 3,471,600 shares of the company’s stock valued at $100,052,000 after buying an additional 870,900 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of CBRE Group by 27.7% in the first quarter. BB&T Securities LLC now owns 1,138,368 shares of the company’s stock valued at $32,807,000 after buying an additional 247,010 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of CBRE Group by 83.8% in the first quarter. Lazard Asset Management LLC now owns 381,719 shares of the company’s stock valued at $11,001,000 after buying an additional 174,071 shares during the last quarter. 95.83% of the stock is currently owned by institutional investors.
CBRE Group Inc. (NYSE:CBG) traded up 1.59% during midday trading on Monday, hitting $28.70. The stock had a trading volume of 2,493,957 shares. The company’s 50 day moving average price is $29.19 and its 200-day moving average price is $28.79. CBRE Group Inc. has a 52-week low of $22.74 and a 52-week high of $38.49. The stock has a market cap of $9.62 billion, a PE ratio of 18.18 and a beta of 1.94.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. CBRE Group had a return on equity of 26.58% and a net margin of 4.28%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Analysts forecast that CBRE Group Inc. will post $2.22 EPS for the current fiscal year.
Separately, Zacks Investment Research cut CBRE Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th.
In related news, insider Michael J. Lafitte sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the completion of the sale, the insider now directly owns 338,053 shares of the company’s stock, valued at approximately $10,107,784.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Holdings L.P. Valueact purchased 1,212,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were acquired at an average cost of $28.28 per share, with a total value of $34,275,360.00. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.
CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is 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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