Amica Pension Fund Board of Trustees Purchases New Position in CBRE Group, Inc. (CBG)
Amica Pension Fund Board of Trustees purchased a new stake in CBRE Group, Inc. (NYSE:CBG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,573 shares of the financial services provider’s stock, valued at approximately $401,000.
A number of other hedge funds have also modified their holdings of CBG. GQG Partners LLC acquired a new stake in CBRE Group in the 2nd quarter valued at $122,000. BB&T Investment Services Inc. bought a new position in shares of CBRE Group in the 2nd quarter valued at about $125,000. Massey Quick Simon & CO. LLC bought a new position in shares of CBRE Group in the 3rd quarter valued at about $193,000. Advisor Group Inc. grew its position in shares of CBRE Group by 6.6% in 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, Commonwealth Equity Services Inc bought a new position in shares of CBRE Group in the 3rd quarter valued at about $202,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.
A number of research analysts have recently commented on the stock. BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a research report on Wednesday, August 2nd. Barclays PLC lifted their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Finally, Bank of America Corporation lifted their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.33.
CBRE Group, Inc. (NYSE CBG) opened at $42.83 on Friday. CBRE Group, Inc. has a 12-month low of $28.91 and a 12-month high of $43.35. The company has a market cap of $14,539.03, a PE ratio of 16.16, a PEG ratio of 1.24 and a beta of 1.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. sell-side analysts expect that CBRE Group, Inc. will post 2.67 earnings per share for the current year.
In related news, insider Valueact Capital Master Fund, sold 5,500,000 shares of CBRE Group stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.90, for a total transaction of $197,450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laurence H. Midler sold 3,139 shares of CBRE Group stock in a transaction dated Friday, September 8th. The stock was 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 of the company’s stock, valued at approximately $3,259,476. The disclosure for this sale can be found here. Insiders have sold a total of 7,035,111 shares of company stock valued at $262,930,113 in the last ninety days. 1.00% of the stock is currently owned by insiders.
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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.
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